Protection from creditors prior to the Fair and Reasonable Test
Even before the Fair and Reasonable Test is applied, you may be protected from creditor legal action simply by informing the DAS Administrator that you’ve applied for a DPP. This is called ‘intimation,’ and it can offer protection from creditors for up to six weeks prior to the application being made.
It’s crucial to meet all the conditions of your DPP for its full term, however, as if the programme is revoked, creditors can backdate the additional interest and fees they would have charged.
There is some flexibility built in to a DPP should your circumstances change, and if this happens you should let your money adviser know. They can apply for a ‘variation’ to your debt management programme under some circumstances, but this must be approved by the DAS Administrator.
If you’re experiencing unmanageable debt, and would like to know more information on how a debt payment programme could help, call one of the expert team at Scotland Debt Solutions.
We’ll be able to advise you on all your options, and ensure you take the most suitable action. We offer same day meetings free-of-charge, and work from five offices around Scotland.
