Debt Arrangement
Scheme

Only available in Scotland, a Debt Arrangement Scheme allows you to repay your debts at an affordable monthly rate with no contact from creditors.

A Debt Arrangement Scheme is managed by a DAS administrator and how long your arrangement lasts depends on the amount of debt that you owe.

Advantages of a Debt Arrangement Scheme

  • You will only make a single monthly payment, based on what you can afford.
  • Entering a DAS will protect you from companies issuing demands or threatening court action against you.
  • The DAS will guarantee to freeze all interest and charges on the debts included once approved.
  • You can apply for a payment holiday of up to six months should you find it difficult to pay.
  • A DAS is a flexible arrangement which means if your circumstances change you could be able to vary your payment amount to make it more affordable – or to pay it off quicker if your situation allows.
  • Creditors who don’t accept the proposals can be forced to comply with the arrangement if it’s deemed to be ‘fair and reasonable’.

Disadvantages of a Debt Arrangement Scheme

 

  • Your credit rating may be affected.
  • If you don’t comply with the conditions then your DAS could be revoked. This means companies can then pursue legal action against you.
  • No debt is written off, you only get relief from interest and charges.
  • It could take longer to pay off your debts than with other solutions.

Get in touch with us about a
Debt Arrangement Scheme today

 
 
 
 
 

Tay House, 300 Bath Street
Glasgow
G2 4JR

Home

Debt Solutions 

Contact


Privacy Policy


Complaints


The Money Advice Service is an impartial service set up by the Government. They provide free debt counselling, debt adjustment and credit information services.

Hillcrest

Get in Touch

Follow Us

Copyright © All Rights Reserved | Hillcrest Finance Limited SC643684 | ICO ZA714591 | ICAEW