Is it time to move out? How to work out if you can afford a place of your own
Find out which debt solution is right for youGet started
Answer a few simple questions
See if you are suitable
Understand your next steps
Be informed with three FAQs about the DAS Debt Payment Plan.
Entering a DAS Debt payment plan can help you get your problem debt under control. But, it will also have some other consequences too. Here we explore three questions we frequently get asked about DAS Debt Payment Plans.
If you fancy having a chat about a DAS Debt Payment Plan (DAS DPP), and we’d always suggest you do before making any decisions, we have trained advisers waiting to help you. Just choose one of the ‘contact us’ options from the left of the page to get started.
What personal details will appear on the DAS Register?
When you enter into a DAS DPP your name will appear on the DAS register. This is a publically available register, which means that anyone can find your details on there, should they wish to go looking. It’s free of charge to search the register and it contains the details of people who are intending to enter into a DAS DPP, and are at the stage of sending a proposal to their lenders, and those who have already started their payment plans.
The following details will be held on the register:
• your full name and any former names
• your date of birth
• your home address and any business addresses you have
• your money advisers address, if you still have one
Who cannot have a DAS DPP?
There are some instances where you will not be able to have a DAS DPP. These are:
• you are already bankrupt or still under bankruptcy restriction orders or a bankruptcy restriction undertaking
• when you are already in a Protected Trust Deed
• you have only one debt and it’s already subject to a Time to Pay direction under section 1, a section 5 of the Debtors (Scotland) Act 1987 or a section 129 time order under the Consumer Credit Act 1974
• you are already paying debts under a conjoined arrestment order
How will being on a DAS DPP affect me?
Apart from the effects on your credit history, which will show your DAS DPP for at least 6 years – making it hard to borrow over that period – and your name appearing on the DAS register, there are some other things you will be obliged to do once you enter into a DAS DPP. You must:
• pay your first instalment within one month of the DPP start date
• inform your DAS Administrator of any changes to your circumstances or address within seven days of it happening
• provide any information requested by the DAS Administrator, or your money adviser, within 10 days of being asked
• make all other payments on time when they fall due
• not obtain any further credit without the express permission of your DAS Administrator
• make no further payments to lenders outside of those detailed in the DPP, apart from any continuing liabilities – which should be paid when they are due
• if you need to, complete a tax return or a duty return and submit it, then pay any sum due if and when asked to do so
• inform the DAS Administrator if your money adviser doesn’t work on your behalf at all times (unless the adviser has already resigned or has been suspended)
• complete all the paperwork and notices required when asked to do so
There might also be other conditions that you need to follow. These can be added by the DAS Administrator or your money adviser and would be subject to approval first.
The advantages and disadvantages of a DAS DPP
Debt solutions are designed to ease your worries about your unmanageable debts and they do that very well, by stopping any further charges or interest payments being added to your debt and allowing you to repay what you owe at a rate that you can afford. They allow you to see a future point in your life when you’ll be debt free.
However, there are some downsides to entering into a debt solution, we covered some in the first FAQ of this blog: your name will appear in the DAS Register for the time your DPP is running. Your DAS DPP will also show on your credit history for at least six years, which will make it more difficult or more expensive for you to obtain credit for that time.
If you think a DAS could help you out of problem debt, why not contact us. Just choose one of the buttons on the left of the page to get started. You can also get free, impartial advice from the Money Advice Service.
by Shelley BowersBack to blog home