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Reviewed 22nd November 2019

How long does a DAS last?

There is no specified timescale for completion of a Debt Payment Programme, as each case is unique and depends on your financial situation. There is flexibility built into the scheme if your circumstances alter, however.

FAQs

Other Related FAQs

Are any debts excluded from DAS?

Debts that will not form part of your Debt Payment Programme include: Some secured loans Student loans Court fines

Are any outstanding debts written off?

Under the Debt Arrangement Scheme, all debts included in the Debt Payment Programme will need to be repaid, minus interest and charges. The idea is that several debts are consolidated into one affordable monthly payment that continues until all creditors are repaid.

Do my creditors need to agree the Debt Payment Programme?

Creditors generally need to agree to the Debt Payment Programme, but the Accountant in Bankruptcy has the power to approve a Program without the agreement of creditors in certain circumstances.

Does DAS provide protection from creditors?

Yes, this is one of the reasons why the Scottish government introduced the scheme. As long as payments set out in the Debt Payment Programme are met, creditors will not be able to make contact or take legal action against you. All correspondence is dealt with by your DAS Approved Advisor.

How long does a DAS last?

There is no specified timescale for completion of a Debt Payment Programme, as each case is unique and depends on your financial situation. There is flexibility built into the scheme if your circumstances alter, however.

What are the disadvantages of DAS?

The Debt Arrangement Scheme, like any debt management product, may affect your credit rating. If you enter into a DAS then your details will be recorded on the DAS register. This is a register which can be accessed free of charge. Creditors and credit reference agencies check this register on a regular basis and may update your credit file to reflect this information. While you have a Debt Payment Programme under DAS, you will not normally be able to access additional credit. There are exemptions to this which your money adviser can further explain.

What happens if I do not adhere to the Debt Payment Programme?

If you fail to make the required payments, the Debt Payment Programme may be revoked, leaving you exposed to the legal action of creditors who may backdate interest charges and fees.

Which debts can be included in a Debt Payment Programme?

The Debt Arrangement Scheme caters for unsecured debt in the main, including: Overdrafts Personal loans Payday loans Credit cards An amendment to the Debt Arrangement Scheme (Scotland) Regulations 2011 now means that mortgage arrears may be included in a Debt Payment Programme.

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