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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Choosing a money adviser is the first important step in applying for a DPP under the A Debt Arrangement Scheme scheme. Unlike having to find other professionals such as solicitors or insolvency practitioners, the Scottish Government has done part of the work for you with a list of approved money advisers at www.moneyscotland.gov.uk.
A Debt Arrangement Scheme money advisers have been specially trained to give you debt counseling and guide you through a A Debt Arrangement Scheme application, so they should all be able to help you. However the success of the programme long-term can sometimes boil down to finding someone you feel comfortable with. Here are a few tips to finding someone who can really work with you to guide you through the process in the most stress-free way possible.
In your initial conversations with a money adviser, they should be trying to establish a relationship with you. They will be working alongside you for years to come so they shouldn’t make you feel silly for not understanding complex financial concepts or judge you for the situation you find yourself in. How you got here is not the point; how you get to a new debt-free point in your life is.
There are certain things that you have to do under the A Debt Arrangement Scheme programme and certain things that your money adviser has to do. They should be up-front with you and explain what is expected from you both. You have the most important role to play in the process and they should help you understand your responsibilities in a positive way.rs.
Money advisers are also debt counselors. They should evaluate your debt circumstances and if A Debt Arrangement Scheme is not appropriate recommend something else. They should not encourage you to undertake a DPP if it is clear you are insolvent, as it is likely that the A Debt Arrangement Scheme administrator will spot this and not grant approval on your DPP.
Your health and family circumstances are important and can often put limitations on what you are personally capable of doing. Your religion and culture should also be considered in context with your circumstances.
While it’s important that your money adviser is positive, being a Pollyanna and not explaining the risks involved with A Debt Arrangement Scheme can financially harm you further. They need to explain the possibilities to you – both positive and negative – to ensure you can make balanced decisions based on understanding the facts.
When all is said and done, your money adviser should have in-depth financial knowledge and be able to offer solid practical help if you are in a crisis. Sometimes speed is essential and they need to respond quickly and appropriately to all the parties involved.
The more money you can find to pay off your creditors, the quicker you will achieve you goal of being debt-free. Your money adviser should be able to help you to create a budget and identify practical ways you can save money so you can increase the surplus available to pay creditors. Sometimes it might feel very tough. They might for example suggest that your bank has to withdraw your overdraft facility to encourage you to live within your means and not rely on credit. At the end of the day however they are there to get you back on the right financial track.
Your money adviser is there to guide through a tough process. As well as having the financial knowledge to counsel you about your debt, offer practical solutions and apply for your DPP if appropriate, they must also inspire confidence in you to achieve your goal of being free from the pressures of debt and then support you through that entire process.
For more information about choosing a money adviser and A Debt Arrangement Scheme, call to speak in confidence to one of our A Debt Arrangement Scheme consultants who will talk you through your options and point you in the right direction.