Do I qualify?
Here is an example of how a Debt Arrangement Scheme could make your debts affordable:
Let say your unsecured debts
looked like this...
Total Owed £28,000
After a DAS...
New monthly repayment is based on affordability and varies from plan to plan.
Visit our FAQ Section for any in depth information on Debt Arrangement Schemes
We are expert providers of Debt Arrangement Schemes. We offer free help and advice on debt solutions and can guide you in the right direction with regards to your debts.
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A Debt Arrangement Scheme is an amazingly simple and very flexible debt payment scheme, that almost anyone with debt would qualify for, and it works like this:
Applications for A Debt Arrangement Scheme can only be made by a specially-trained money adviser, who has in-depth financial knowledge and can evaluate your financial circumstances to ensure your application is set up correctly. There are lists of approved money advisers here for you to choose from, and our article here will give you some pointers on what to look out for when choosing the right money adviser.
The first thing your money adviser will ask you to do is prepare a budget showing your income vs expenditure so they can see how much surplus money you have at the end of every month. This budget will not include debt repayments so you should have some of your salary left over. If you do not, then it is unlikely your application will go any further and your money adviser will give you advice on other debt solutions that are right for your circumstances.
Based on the surplus income left over, your money adviser will design a DPP that distributes the surplus cash equally among your creditors, and then contact them to gain their agreement. From the time of first contact, your creditors have 21 days to respond. If they do not, it is assumed that they agree with the DPP. However, even if they do respond and do not agree, as long as the DPP is fair and reasonable their objections will not be allowed to stop it.