Is this normal? DAS Scheme

Sososad

Hi everyone,

Hope someone can help!! No creditors rejected my DAS, and now my money adviser has said he will call when he hears back from the DAS Administrator is this normal?

I guess i have done that much worrying im just probably worrying about something else now.

Thanks

Sss x

billybraggtastic

I'm no expert on the matter but it sounds as if you are on the home straight. I hope that's the case and you are able to start to put things right.

Keep us posted!!

bbt

Sososad

Hi Billy

Thank you for replying, I do hope you are right, seems like a never ending story, hopefully I will come out the other side and will let you all know what happens.

Hope all is well with you Billy and fingers crossed for you too!!

Will post when i hear anything good or bad.

Sss x

coolcait

Hiya Sss

If no creditors have rejected the DAS, then the regulations say that the DAS Administrator shall approve it.

Your money adviser probably just means that once the bureaucracy winds it way to an end, and he gets a letter back from the DAS Administrator saying 'well, nobody objected so - go on then - let's put Sss on a DAS programme...', he will let you know, and give you a copy of the letter ;-)

But, seriously, if it's worrying you, why not give your adviser a call, and ask him what he meant when he said that. Hopefully he'll be able to put your mind at rest. But, at least you'll know exactly what's going on.

Looking forward to hearing good news from you soon!

Sososad

Hi Coolcait

Thanks again for your advice, I will try getting through to the money adviser again although it sometimes takes me days of trying as they are so busy. I guess the time i get through they will have hopefully got back to me. I think im just worrying as our case is one of the most unusual cases that i have read and i keep reading the money scotland site where it says if you have signed a trust deed then you cannot apply for a DAS, although my money adviser did check this out before applying (i presume!!).

Will keep in touch and hopefully come back with some good news at last, was just thinking its a year to the day that all this started, so hopefully will all be sorted!! .

Sss x

Sososad

Hi everyone,

I have great news, :j:j my DAS was approved today, so all my worrying and stressing can be reduced in a big way.

I would just like to say thank you all for putting up with my moaning, worrying and stressing. I will write about my experience when i get a minute and would like just to say a huge thank you to all who helped and supported me over the past few months.

Thanks again

Sss x

dandydingo

Hi Sososad

Would I be cheeky asking what the terms of your DAS are? I'm seeing a money advisor in the next few days with a view to having one set up but I'm really uncertain whether it will be the best route for me. Excluding my student loan (£18,000 - I'd like to leave this to be repaid through my payroll) I have £7,000 debt and around £200 to spare each month.

What do you think my chances are?

dandydingo

Sososad

Hi DD

Im no expert on DAS although if you speak to your money adviser that is the best move for you, they will guide and help you in what is right for you. With a DAS it protects all your assets ie your house, car, holiday home whatever!! if the creditors agree and even if they dont they dont have the final say it would then go to the DAS Administrator who would look at your case and how much you are willing to pay each month and if they thought it was reasonable and fair then it would more than likely be accepted anyway. Also all charges and interest in a DAS are frozen as long as you keep to the terms of the DAS. You can also find out more about DAS Scheme on Money Scotland website.

Good luck!!

coolcait

Woooooohooooooo, Sss!! :T:T

That is such great news!

Hope you're having a wee celebration tonight :beer:

Thanks for letting us know!

Sososad

Hi Coolcait

Thanks again for all your help and will most certainly be celebrating maybe a strong cup of tea :rotfl:lol. As you know by now i worry, worry, worry and worry about nothing, i must be the worst worrier in the world. One last question i hope you can answer..... As we signed the Trust Deed, then the Trustee resigned and now have been accepted for a DAS, can the Trustee come back to us and demand any money for fees, im just scared that somehting is going to come back and bite me on the bum...., ooops, also do you think i would be able to get the Trust Deed taken out of the Gazette and of my credit file?

Sorry that was two questions but i promise to try not ask anymore .

Thanks again you and everyone i have spoke with on here have been absolutely brilliant and could not recommend this site enough. It's the best, just a shame i didnt find it sooner................

Sososad

Hi Coolcait

Thanks again for all your help and will most certainly be celebrating maybe a strong cup of tea :rotfl:lol. As you know by now i worry, worry, worry and worry about nothing, i must be the worst worrier in the world. One last question i hope you can answer..... As we signed the Trust Deed, then the Trustee resigned and now have been accepted for a DAS, can the Trustee come back to us and demand any money for fees, im just scared that somehting is going to come back and bite me on the bum...., ooops, also do you think i would be able to get the Trust Deed taken out of the Gazette and of my credit file?

Sorry that was two questions but i promise to try not ask anymore .

Thanks again you and everyone i have spoke with on here have been absolutely brilliant and could not recommend this site enough. It's the best, just a shame i didnt find it sooner................