Debt Arrangement Scheme (DAS)

sgx.saint

Hi Beanielou.

That was my understanding too, but it doesn't appear to be the case as I've contacted several money advisors through the Money Scotland website, and have received differing responses, particularly in reference to the repayment term.

In fact, I'll paste the following email reply from one .....

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Dear XXXXXXX

Debt Arrangement Scheme

Thank you for your recent enquiry regarding the Debt Arrangement Scheme.

Carrington Dean has the following criteria for dealing with Debt Arrangement Scheme cases which are:

There is an arrangement fee of £250. This has to be paid before the DAS application is submitted to the Accountant In Bankruptcy.

There is an administration cost of £25 a month for the duration of the DAS scheme

The duration of the DAS does not exceed 5 years.

There are no more than 10 creditors.

Unfortunately based on the information you have provided Im afraid you do not meet our set criteria as your would disposable income would have to be around £570.

There may be an advisor available in your area who provides this service free of charge.

A list of all accredited money advisors can be found on https://www.moneyscotland.gov.uk

I hope this information has been of help to you and resolves the situation discussed. Please do not hesitate to contact XXXXXXXX, Money Advice Manager if you have any further questions or enquiries.

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coolcait

sgx.saint wrote: »

Hi Beanielou.

That was my understanding too, but it doesn't appear to be the case as I've contacted several money advisors through the Money Scotland website, and have received differing responses, particularly in reference to the repayment term.

In fact, I'll paste the following email reply from one .....

---

/
Dear XXXXXXX

Debt Arrangement Scheme

Thank you for your recent enquiry regarding the Debt Arrangement Scheme.

Carrington Dean has the following criteria for dealing with Debt Arrangement Scheme cases which are:

There is an arrangement fee of £250. This has to be paid before the DAS application is submitted to the Accountant In Bankruptcy.

There is an administration cost of £25 a month for the duration of the DAS scheme

The duration of the DAS does not exceed 5 years.

There are no more than 10 creditors.

Unfortunately based on the information you have provided Im afraid you do not meet our set criteria as your would disposable income would have to be around £570.

There may be an advisor available in your area who provides this service free of charge.

A list of all accredited money advisors can be found on www.moneyscotland.gov.uk

I hope this information has been of help to you and resolves the situation discussed. Please do not hesitate to contact XXXXXXXX, Money Advice Manager if you have any further questions or enquiries.

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Hiya again

It's difficult to comment properly without having seen all of the messages you received from the money advisers you contacted. How many have you contacted, and how many are CAB, local authority or private sector? That might affect the response you get from them. Could you share the other replies you've received?

Carrington Dean are a private company - there are a couple of private sector MAs working on the DAS scheme. They will have their own rules on what makes a case viable for them to take on, as well as working from the general DAS guidance. From the letter you quote, they have followed the DAS rules/guidance in making you aware that you may be able to find a DAS money adviser who works free of charge.

My own jaundiced view is why go to a fee-charging company when you can access DAS for free? However, I accept that others see that point differently.

There is no legally set upper or lower limit on how long a DAS Scheme will last. The official guidance suggests an upper limit of ten years, and some money advisers won't take on anything that will last longer than that.

Others are more willing to put it out to the creditors to decide. If all creditors agree (or don't reply within the set timescale) then the DAS will be approved automatically - no matter how long it lasts.

You won't get an 'industry standard' as the law is flexible, as is the guidance. Some MAs follow the guidance to the letter, others treat it as 'guidance' not 'gospel', and are more prepared to submit cases which are outside the norm.

The letter you received from Carrington Dean linked you to the moneyscotland website. This link will take you directly to the Register of DAS approved money advisers:

http://www.moneyscotland.gov.uk/das/das_display.jsp?pContentID=247&p_applic=CCC&p_service=Content.show&

Find your own local authority area, and that will show you exactly where and who your local advisers are. They may be based with the local council money advice team rather than CAB. And, they will be busy, so try to give them a call first if you can and make an appointment.

good luck!

Sososad

sgx.saint wrote: »

Hi Sososad,

Did you get any further with your DAS?

I've not had much look unfortunately as either I have too many creditors, or the repayment term is too long for my DAS application to be accepted.

Does anyone know of any DAS administrators that would accept a DAS with an approximate repayment term of 12 years?

I wonder if CAB would be my best bet?

Hi sgx.saint

Fortunately for me my DAS was approved as no creditors objected, i am now in a DAS scheme and will be paying all i owe over 8 years but hopefully sooner.

I went through CAB and no fees are being paid to Carrington Dean who is dealing with my payments.

Good luck

Sss x

Miss_Poohs

My husband is in a DAS and has been for 18 months.

He owed in the region of £85,000, and is paying this off at £530 per month over 13 yrs!!

The DAS cost him nothing to set up. It was arranged via the local authority Welfare Rights team, who were excellent.

Don't get me wrong, its alot of money every month foreby all our regular out goings - mortgage, utilities etc, but we're trying to stick with it.

I was told that should we at anytime be in the fortunate position of having a lump sum we can contact the company who divvie up the money each month (PayPlan) and try to negotiate a full and final settlement figure.

My advice would be to have a look here for an advisor - http://www.moneyscotland.gov.uk/das/das_display.jsp?pContentID=173&p_applic=CCC&pElementID=126&pMenuID=1&p_service=Content.show&

All the very best. I'm happy to try and answer any of your questions either on the boar or via PM.

MPx

frankfish

Hi ,

Hopefully someone could help answer a few questions for me.

Currently on a DMP with CCCS, but also been speaking to CAB about a DAS. Had confirmation that my DAS has been accepted (I think because no one objected).

How do I transfer from a DMP to a DAS? Do I just speak to CCCS and change my payment to the other company.

Can the amount I pay each month ever be changed, i.e up or down?

2 out of my 3 creditors have issued defaults, can the 3rd now do this? When will the defaults expire, is it in 6 years or at the end of the DAS (12 years)?

Does it make nay difference being on a DAS or a DMP when it comes to looking at new mortgage deals?

Finally, why did I feel a little bit guilty when I found out the creditors only get 90% of my payments (only lasted a few minutes)

Thanks