The Debt Arrangement Scheme (DAS) is a formal debt solution that’s exclusively available to Scottish residents. It can help you if you can’t currently afford your monthly unsecured debt repayments, but you could afford to pay a reduced amount each month, over a longer period of time. The DAS allows you the extra time you need to repay what you owe.
It is run by the DAS Administrator, part of the Accountant in Bankruptcy, which is an agency of the Scottish Government.
Your DAS-approved Money Advisor will work with you to put together a proposal – known as a DAS Debt Payment Programme (DPP) – setting out how much you will repay each month. This will be an amount calculated based on what you can afford and it’ll take into account your essential living costs – including rent or mortgage, travel costs, food, utility bills and so forth.
Your proposal will be put to your lenders, who have the opportunity to object, however, if your lenders don’t agree to your DPP, the DAS Administrator could approve it anyway if they think it's a suitable way for you to repay what you owe.
All interest and charges on your debts will be frozen whilst you’re on the DPP, meaning your debt can’t get any bigger.
While you’re on a DPP, your lenders won't be allowed to take any further action against you for as long as your DPP remains in place.
Under DAS, you will repay your debts in full. You avoid insolvency and the more serious consequences that come with it, like having to realise the value of any assets or property you own.
If you think DAS could help solve your problems with unsecured debts, speak to an expert advisor and they’ll be able to advise whether it is a suitable solution for you.
DAS does comes with some consequences. It will be recorded in the publicly available DAS Register until it ends and will appear on your credit history for six years, so you may find it harder to obtain credit during that time.
Also, as you’ll be lowering your repayments through a DPP, it will usually mean you will be repaying your debts for longer than if you maintained your original credit agreements.