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Debt Arrangement Scheme
Through our experience with Debt Arrangement Schemes we know when it's a suitable solution. Quickly find out if it's right for you with our three steps
Answer a few online questions
It's fast and easy
2 min
Get your free Money-Smart report
Makes sense of your money
Find the right solution for you
Help reduce monthly payments
Typical Example from all our customers who were recommended a Debt Arrangement Scheme
This average example shows how these customers’ payments were made more affordable each month.
Typical Example
Personal unsecured debt
£17,020
Number of lenders
9
Previous monthly debt repayments
£550
New monthly debt repayments
£296
These figures are based on the averages across all Debt Arrangement Schemes arranged for customers in 2017. We assess each customer individually based on their circumstances, and payments to the Debt Arrangement Scheme are based on what is realistic and affordable.
The Debt Arrangement Scheme can only be arranged by approved Money Advisors, so talk to us for expert advice
Repay all of your unsecured debts at a rate you can afford with this formal debt solution available to Scottish residents.
A Scottish solution
Debt Arrangement Schemes are only available if you live in Scotland.
Debt Arrangement Schemes are affordable
You'll make lower monthly repayments over a longer period of time on your unsecured lending (things like credit cards, loans, overdrafts etc).
This will make sure you only have to pay what you can afford after you've taken care of your other important bills and living costs.
Freeze interest & charges
All interest and charges on your debts will be frozen, so your debts can't grow.
Credit rating
As you'll be paying a reduced amount, it may take longer to repay what you owe and your credit rating will be adversely affected.
Debt Payment Programme (DPP)
Under the Debt Arrangement Scheme, you will have a new repayment plan called a Debt Payment Programme (DPP). The DPP is legally binding, so once it's been agreed you will be protected against further action from your lenders (as long as you keep up with your payments).
Your DPP will also be recorded in a publicly available Debt Arrangement Scheme register.
Answer a few questions online, find out if a Debt Arrangement Scheme is right for you
Quickly find out if a Debt Arrangement Scheme is right for you
Debt Arrangement Schemes are available subject to eligibility and acceptance, alternative solutions may be offered. Fees payable if continuing service are provided. Our fees are explained here.
To find out more about managing your money and getting free debt advice, visit Money Advice Service, an independent service set up to help people manage their money.
From finding balances to dealing with your lenders - your qualified Money Advisor will do it all for you
What will happen during a Debt Arrangement Scheme (DAS)...
With a Debt Arrangement Scheme your monthly repayments are made more affordable
Answers to common Debt Arrangement Scheme questions
Will it affect my credit history?
The fact that you've lowered your monthly repayments will affect your credit rating and will show up on your credit record for six years – this will affect your ability to obtain credit.
Can I still get credit?
Whilst you're paying your debts under the DPP, you need permission from the Debt Arrangement Scheme Administrator before applying for or obtaining any further credit.
As you will be repaying less each month towards your debts, you will be in debt for a longer period.
For further information about Debt Arrangement Scheme Read more...
Our promise to you
You will not be called by a call centre
Our experienced, Money Advisors will only call at a time convenient for you
We'll take care of everything
From finding balances to dealing with your lenders - your qualified Money Advisor will do it all for you!
DAC look to help everyone
We have helped over 400,000 people with a range of solutions - it's important we find the right one for you
Get your FREE Money-smart report - make sense of your money
Find out if a Debt Arrangement Scheme is the right solution
Talk with your personal Money Advisor today
If you are interested or would like more information on Debt Arrangement Schemes, talk through your options with one of our experienced money advisors
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