Debt Support Hub
Debt Arrangement Scheme - Scotland Only
The Debt Arrangement Scheme (DAS) gives you the opportunity to apply for a Debt Payment Programme (DPP) allowing you to pay reduced monthly payments to your creditors over an extended period of time whilst eliminating the threat of court action from your creditors. The scheme is for Scottish residents only.
The plan will cover all unsecured credit and excludes Court Fines, Student Loans & Secured Loans. Details of your income & expenditure will be taken and your disposable income after all your essential expenses will be used to pay monthly payments to the plan.
An Approved Money Adviser will make the initial assessment to offer a DPP and the Accountancy in Bankruptcy will administer the plan. Finally a Payment Distributor will be responsible for collecting the monthly installments and distributing them to the creditors.
Advantages
- Prevents creditors from taking legal action to recover funds owed to them.
- All interest, charges and fees will be waived once the DPP has been agreed.
- No limits on the level of debt to apply for a DPP
- You pay one affordable monthly payment so you do not have to deal with all your creditors.
- Your home will not be at risk under the scheme
Disadvantages
- Prevents creditors from taking legal action to recover funds owed to them.
- All interest, charges and fees will be waived once the DPP has been agreed.
- No limits on the level of debt to apply for a DPP
- You pay one affordable monthly payment so you do not have to deal with all your creditors.
- Your home will not be at risk under the scheme
How Much Will it Cost?
In most cases a DAS is free but some Money Advisers can charge a fee for their service. The fees are regulated meaning they can charge:
2% of the monthly payment paid to the DAS Administrator &
8% to the Payments Distributor
Where charges are applied the Money Adviser must disclose all fees and advise clients where they can access free advice.
For official information please go to https://www.aib.gov.uk/debt-arrangement-scheme or call 0300 200 2600.