Debt Arrangement Scheme (DAS) - Scotland only
With the Debt Arrangement Scheme, you could have:
- Lower monthly unsecured debt repayments
- Protection against action from lenders
- All interest and charges frozen
Help with unaffordable debt repayments
The Debt Arrangement Scheme helps to ensure your debt repayments are affordable. You'll only pay what you can afford towards your unsecured debts each month.
A freeze on interest and charges
Once an agreement is in place, all interest and charges will be frozen, so your debts can't grow. That means more of each payment you make goes towards the debt itself.
Protection against action from lenders
It's a legal agreement, which means once it's agreed your lenders can't take any further action.
How DAS works
The Debt Arrangement Scheme is a scheme designed to help Scottish residents who can't afford their debt repayments. Under the scheme, you'll have your own Debt Payment Programme (DPP) - a plan for repaying your unsecured debts in affordable payments.
We'll talk to your lenders about reducing your payments, so you don't have to. Your new payments will be based on what you can afford after you've covered your bills and other living costs.
You'll keep making reduced repayments until your circumstances improve, or until you've completely repaid the debts - whichever comes first.
Is it right for me?
A DAS Debt Payment Programme could make a big difference if you can't afford your debt repayments as they are, but can still afford lower monthly repayments.
It offers all the benefits of an informal debt management plan, but you'll also benefit from the added protection of a legal agreement, and you won't have to pay interest or charges.
However, DAS can't help you if you don't think you'll be able to repay your debts within a reasonable timeframe. And remember, you must be a Scottish resident to qualify.
Final points
A DAS Debt Payment Programme could help to make your debts affordable again, but do keep in mind that because you won't be repaying your debts as originally agreed your credit rating will be affected. Smaller repayments will mean the debt takes longer to pay off.
- 0800 161 3516
- 0161 605 4824