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Dan Reardon

I am a Debt Counsellor, licensed by the Financial Conduct Authority

Debt Arrangement Scheme (DAS) Scotland

A DAS is one of three very similar solutions. You should be certain that it is the right one for you before you proceed. You should be aware of how a Trust Deed and Sequestration work too. Get in touch with me via the widget and I can give a detailed explanation of each service as it would apply to you. You can then be sure that your specific circumstances have been taken into account. You can also contact me with any questions.

This is a summary of what I cover in the video:

Process:

  1. Money Advisor will evidence your financial situation
  2. Application submitted to DAS administrator
  3. A DAS could run for years longer than an alternative solution
  4. Once approved, the DAS is passed to a DPP (debt payment plan) provider
  5. They collect and distribute your monthly payment
  6. They will conduct regular reviews of your financial situation and adjust your payment accordingly
  7. They can grant payment breaks for extenuating circumstances
  8. The DPP runs until the debts are paid off in full
  9. Equity in property is protected provided the DPP is maintained

Consequences of using DAS:

  1. Detrimental impact on credit rating for at least six years
  2. Cannot obtain credit for more than £2k without permission of DPP provider