DAS

If you are experiencing financial worries and your debt simply does not seem to be going down, you may be considering entering into a formal debt solution in order to help you manage.

The Debt Arrangement Scheme, or DAS, is a debt procedure available to residents of Scotland who are struggling to repay their unsecured debts.

The Business Debt Arrangement Scheme was introduced by the Scottish government in 2014, and helps businesses run by sole traders, as well as partnerships, trusts, and unincorporated bodies, to repay debt over an extended period of time.

The Scottish Debt Arrangement Scheme, or DAS, is a debt solution that allows you to pay off unsecured debts without having to declare insolvency.

The Debt Arrangement Scheme (DAS) is a government-backed debt procedure aimed at helping Scottish residents pay off problem debt over a longer period of time than stated in their original contractual agreements.

If you’re getting married and are worried about what happens to your personal debts, initially you need to consider whether the debts are in your name only, or are joint with your partner – this determines if your spouse can be held responsible for repayment.

The Payment Protection Insurance scandal of recent years has led to hundreds of thousands of people making claims for compensation relating to financial products they were mis-sold.

If you owe a debt of £5,000 or less, your creditor may send you a Simple Procedure Notice of Claim. This is a relatively new procedure that was brought in by the Scottish government and commenced on 28th November 2016 – their intention being to make it easier to resolve debt disputes.

Scotland has a number of formal debt solutions that can help you deal with a difficult financial situation.

If you’re struggling to repay debt and looking for a way to better manage the situation, you may have come across two commonly-offered options.

If you’re trying to deal with overwhelming amounts of debt, you may be eligible for the Debt Arrangement Scheme in Scotland.

Being in debt is a stressful situation, but when you start to experience harassment from creditors, the pressure quickly rises. Creditors can overstep the mark when it comes to chasing payment, however, and if you feel that you need to stop harassing calls or letters, there are certain steps you can take.