Debt Arrangement Scheme - Scotland

Miss_Poohs

I'd get on to the AiB Pudsyp.

Looking at the way alot of companies dealt with my husbands DAS I get the distinct impression alot of English companies dont think DAS applies to them, and they don't "get" it.

Obviously you're also trying to deal with this massive HSBC mistake too - but I reckon even if it got to court, you'd be left laughing.

You've kept your side of the deal - I just hope someone can help you deal with HSBC dreadful admin.

Very best of luck.

MPx

Suffol

Hi, just to share my pleasure that my DAS has just gone through, despite some large amounts (total £90k), some awkward creditors (RBS had started going after an inhibition) - and an initial period of fifteen years! Out of the ten creditors, only two replied (accepting) during the 21-day period allowed, and the others didn't respond. It therefore went through on mostly 'deemed consent'. My local council money advisor was just fantastic, and the monthly payment for the first six months is entirely affordable. At the first review, I expect to be able to increase payments four-fold, and thereby shorten the DAS period to under five years.

At the moment I feel like I've been drowning and just thrown a life-belt - the relief that seven months hell struggling with a DMP is over is just massive, and I wish I'd gone straight for a DAS much sooner - but back then I didn't know enough to push for it. I can't quite believe how good a DAS seems to be, and expect some catch to reveal itself, but apparently not . If anyone's thinking about doing the same as me, do ask about anything - I now understand the process very well indeed.

Chris

Choo_Choo_4

Brilliant Chris - I'm delighted for you.
If you have an asset to protect (with equity in it) and cannot or would prefer not to have to release it then you would almost always go for DAS over DMP as it provides the protection from your creditors and is regulated unlike the Informal DMP ...

Now you will be able to sleep easier at night and get things back on track ...
I'm delighted for you!

As you say you would hope to be able to increase your payments at review stage but at least you know if the worst comes to the worst and this is not an option or they don't increase by the expected amount that it will not affect the arrangement that you now have in place

Best of luck Chris ...

battlestarone

we are ahving the same problem with one of my wifes creditors,they are aware she is on a das,but say the amount is not enough that there getting,they alos refuse to deal/talk with her money adviser at the CAB,and say they have not got a copy of a leter of athority from her payment dist,eve nthough its been sent to them twice by post and fax.

last phone call yesterday they threatend my wife with legal action say they would pass is for collection which could mean a collecter calling at out home,i went spare,they just will not listen and as far as i see it there breaking ther rules of the das by contacting us direct and demanding payment,we are going down to see out money advisor on monday,then it a call to our lawyers office so he can threaten them.
my wife was pretty shackin after tha last phone call from them,this is causing her distress and i now see it as harasmment,this is the road i am going down to get them to dance to my tune.

alway ask the mane of the person who is calling,is the call recorded,if so can you have a ref number for the call,write to them asking only to be contacted by letter this may be you right,tell them you will forward all copies of the leter to your money adviser and lawyer,tell them you wil lreport the contuct to OFT and the FAS,and if the call dont stop you will make a complaint to ofcom,or oftel regarding there conduct,but make sure you get names,dates,ref numbers for calls if they are recorded,they dont like this,also you may have case against the person calling you,i have heard of case where people have been awarded compo from firms like these,the dept collectors are going on that they presime you dont know the law,you have to be a step ahead,if you are on a das then it them breaking the law,talk to a lawyer asap,it may be free.

even better record the call but you have to tell them they are being recorded,wait for there reaction,they change there tune.

regards to all

battlestarone

my typing is bad,just seen last post,got to get new keyboard...

billybraggtastic

battlestarone wrote: »

my typing is bad,just seen last post,got to get new keyboard...

That made me chuckle - where do you get one of those!!!

Started my DAS payments in January and have had Mercers DCA on acting for Barclaycard. They have called 3 times while I have been at work. First time my wife was out so they left a message. Following 2days she was in and answered - both times they asked for me and ended the call when she told them I wasn't in.

I also got a letter on Thursday from them which I have replied to with a copy of my letter from AiB confirming approval of my DAS application.

Will wait and see what happens next but your advice in your original post may come in handy.

cheers
bbt

pure_dead_dopey

Morning All

can I just ask a question about DAS? We are in a DMP with CCCS and so far it is going well, most have stopped interest apart from the usual culprits, Lloyds and RBS. I had no idea there was such a thing as a DAS and if I had we might have gone for that instead, so I have been kind of holding it as a last ditch if the DMP doesn't work.
Can you make full and finals on a DAS?
Can you pay off early if you are lucky enough to come into some funds.
Can you keep it at the same repayment level all through?

I am just asking because as far as I can gather from these boards, the main problem a lot of DMPs come across is that as the payments go up in relation to the amount owed and therefore get nearer to the "minimum" payment, that is when they start slapping interest on again (very greedy) and that's when it all can go pear shaped. Just wondered if DAS would avoid this?.
thanks in advance

Suffol

Hi PDD

I started with a DMP, but was never as successful as you've been in getting interest stopped on total debts of £80+++k. My debt was going up inexorably month on month, even though I was making payments over £500 regularly. After seven months - and getting court papers from RBS - I threw in the towel and went for a DAS - debt by now £89ishK - and make my first payment this month. No regrets at all, and if I'd gone for it at the outset, I'd be owing several thousand less than I now am. I don't know how easy it is to do F&Fs on a DAS - I guess it may be less easy than a DMP, and it feels like I'd never be in a position to do it anyway! The big bonus for me is knowing that that's it, and that none of the creditors can start to add interest again. I'm quite optimistic that when my personal circumstances change later this year (see some of my earlier posts) I can throw enough money at the DAS to shorten the period I'm paying (fifteen years for now:eek:). But i know that if things get tougher - my three kids may all be going into higher education in the next five years - I can reduce payments too. The DAS seems to be really flexible that way. PM me if you need more details of how I did it with my wonderful council money advisor.

Chris

pure_dead_dopey

thanks Suffol

It's really useful to know that someone has done it, out debt is more than yours and we are older I guess, in our fifties so must get this sorted before we retire or we will be looking for a tent to live in. Our DMP is scheduled to last for 9.5 years, we've got good salaries so paying over £1000 per month (how horrendous is that!!!!), we have been quite pro-active with the DMP which is why I can see we may run into trouble when the payments get higher and the debt gets lower. I have the possibility of having a lump of cash later on this year which could help considerably to reduce the balance but I just want to get best value from this, ie get the best possible deals on f&fs if I can, so I think we may just hold fire on the DAS unless we run into bigger problems with interest adding, so far total owed is definitely decreasing. Why is it all so difficult?? It is good to know there is another avenue available before we have to risk equity etc. Good luck and do let me know how you go.

PDDxx

Suffol

I think that's a good call, if you think you could be doing F&Fs sooner rather than later. But if your creditors start adding interest again, or sniffing around your assets with an inhibition (as RBS was with us), I'd look again at a DAS. I was offered some amazing F&Fs early on, MBNA prepared to write off 75% of the debt, almost £14k! But (a) couldn't raise any cash at all, and (b) feel a bit guilty about the whole thing still. By going with DAS, I'm paying what I owe, albeit over a very very long time indeed (maybe). That being said, if I miraculously came upon a bucket of cash, I'd probably forget my scruples, and turn into a hard-nosed negotiator of F&Fs...;)