Debt Arrangement Scheme - Scotland

Miss_Poohs

Chipsmum - my DHs DAS was for 13yrs, he's almost 2yrs into it now, so its not impossible to have it extended beyond the 10yr mark, don't give up hope.

Suffol

Chipsmum

I know the rules say 10 years is a maximum, but the AiB has flexibility to interpret this and clearly does, particularly where there are special circumstances - i.e. a good prospect of payments being much higher in the near future. If that kind of special circumstance is the case, they can put 'special conditions' on the approval, such as a 6-month review period instead of the normal annual review (my money advisor was expecting that, but it didn't materialise, even with mine at 15 years!). The magic trick appears to be finding a money advisor who's got good experience with doing DASs, getting them accepted, and understanding where the flexibilities are. Not that they'd be playing the system or anything, since the AiB is the final arbiter, and anything they allow is by definition within the rules.

If you can, try to shop around for a money advisor, going to more than one organisation if you can, and saying that you believe your case might be complicated and you need someone with experience. If you can't find anyone to help that way, the other thing could be to indeed prune your finances to get the period down to ten years. Once you're accepted onto the DAS, you can have a review at any time if you can't afford the payments - so three months in, say, there might be the option to drop your payments and extend the term.

Also, don't worry about the overdraft - until you actually take action, the bank won't know what's happened /about to happen, so (if you can) take everything out as cash, if necessary over several days (or by going into the branch and doing it over the counter). I'd do this before you cancel any direct debits, since if you do them all at once, someone might smell a rat...

Honest, don't despair - there will be a way through for you. So long as you're earning enough to eat, heat, travel and pay your essential housing costs, you'll survive this bumpy patch in the road and come out the other side with a prospect of really paying off the debt one day. If I'd carried on the way I was, I'd have had MBNA and CitiVisa trying to reach me in the hereafter , forty years+ from now, and my gravestone would have needed a small-print section down the bottom - 'sponsored by RBS' !

All the best
Chris

Miss_Poohs

If I'd carried on the way I was, I'd have had MBNA and CitiVisa trying to reach me in the hereafter , forty years+ from now, and my gravestone would have needed a small-print section down the bottom - 'sponsored by RBS' !

:rotfl::T:rotfl::T

Suffol - you're a star, that just about says it all :T

Miss P x

chipsmum

Thanks folks.
Was having a real bad day yesterday. Actually felt physically sick and couldn't concentrate at work at all but today is a new day !
CAB were actually very helpful (apart from scaring me about the 10 year DAS rule) and told me not to worry, they would get me sorted out.
Most of my loans and CCs come out of my account (Nationwide) on the 1st of the month and I think what I should have done is cancelled a couple of DDs before they were paid to give me some living money but hey ho - too late now !
I have another joint current account (LLoyds) with my OH so going to pay my cheque (£1000) in there and then withdraw the cash. Dont have an overdraft with them and CC payments are up to date. That will give me money for food, fuel etc.
Then next step is to remove my name from the joint account so when I do go into DAS, my husbands measly Jobseekers Allowance is safe for him and hopefully his wages when he gets a job !
Have applied for a new bank account and waiting for their pack. Just hope that goes ok, can't see why not as no missed payments on my credit files yet.
I think there are three free DAS money advisors in my area so I guess if the first one isnt helpful, I can try another one. I think I probably just need to be assertive and say I know that the AiB do approve plans longer than 10 years and point out that I will be able to increase payments at some point in the future.
It's a bit of a rollercoaster of emotions though. Some days I think I have a plan and I will get it sorted and get my life back. Next day I feel completely overwhelmed and embarrased. I think once I get the new bank account sorted, get my essential DDs transferred and have my appointment date for the money advisor, I will feel in more control. I can cope with the phone calls and letters - CAB told me not to reply or send token payments or anything until they had agreed a solution with me.
It's going to be a difficult few weeks but there are worse things happening to people in the world !

Suffol

Chipsmum

Glad you felt better - it's always good to have a 'reserve' bank account to use, and I like the security of having more than one piece of plastic (even if there's no cash backing it up!). Let us know how you get on in your search for a helpful money advisor, and it's good there's a potential choice for you in your area.

I found a good way of feeling less bad about myself and my lousy financial skills was to consider the much bigger mess that the banks got into - and they're all trained experts with years of experience. Maybe my own approach to financial risk management was pretty flawed, and I failed to consider all of the things that could go wrong - but at least it was only my own (OK, and my family's) future I was risking, not all of millions of customers' futures - and indeed the whole of the UK economy. And now I'm being positive and sorting it all out, within the law, and without asking for favours or handouts from anyone. I can this way even talk myself round to seeing myself in a positive light ;-). Try it - it worked for me.

Sending positive thoughts,

Chris

Bollotti

I have found this thread very informative, so thank you everyone who has posted.

I am currently considering either a DAS or Trust Deed. I am put off the Trust Deed by having to give up any equity in my home. I cannot see how I would be able to release any other than by having to sell, and would then have the problem of obtaining a mortgage with adverse credit history.

So I am erring towards a DAS.

I am self employed and have arrears with the Inland Revenue. Currently we (my wife is a partner in the business), are paying £1,000.00 per month, which is now becoming unsustainable.

Our other creditors have been okay with £1.00 per month for the last 6 months, but the phone calls and letters are starting to arrive again.

My plan was to offer a F&F to each creditor, and try and pick them off one by one, but unfortunately income levels just have not been enough to consider this.

Is it possible to put tax arrears into a DAS? This is my main creditor and possibly the worst to deal with.

Thanks

Suffol

Hi

So far as I know, you can add in tax arrears, but not 'current' tax. But check with a proper money adviser.

Chris

chipsmum

Morning fellow Scots

Realised I hadn't posted for a while so thought I would update you on my progress. Filled in all the paperwork for the CAB a couple of weeks ago and was supposed to have my appointment today - not with the DAS money advisor but for an initial assessment and to hopefully be referred to the DAS expert.
Got my 10 year old banger out of the drive and its got no brakes so RAC call-out and no doubt big garage bill :mad: Upshot is that I couldn't get to the CAB as I am 5 miles from the nearest bus stop so now scheduled for next Thursday. Then I guess I will have another couple of weeks to see the DAS lady. Just want to get things moving now !
On a more positive note, I have 2 new basic bank accounts open (one for priority debt direct debts and a seperate one for food, fuel, clothes, emergency fund etc.) Think I will feel more in control that way as I can pay all the priority debts and then know what I have left for spending.
What a joy it was to log on to internet banking today and see my salary sitting there instead of the overdraft I see on my old account :j
The other positive thing is I have told my DH about trying to get accepted for DAS and he didn't seem too upset - only glad that I was doing something about the phone calls which are now coming at very annoying intervals. I have told a couple of callers that I have an appt with CAB and not to ring again but they are very persistent and want a token payment which CAB advised me not to do.
When I rang to rearrange my CAB appt today, they have said they will send holding letters to all the creditors but not sure if that will help much.
I am pinning so much on DAS as a solution, I will be devastated if I don't get accepted as I will be over the ten year normal threshold but I will fight my corner that I know of others on Martin's forum that have been :money:

Jackie

battlestarone

glas thing are moving along,but i have just dealt with one creditor who after 7 months are calling saying they know nothing about my wifes das,refering to the only letter they have from the cab regarding an interm payment,though the das has been approved ages ago and includes the company that called,there saying that they have no official documents regarding my wifes das.

i find this strange,we had another creditor that claimed after months the very same thing a while ago,this was resolved by our payment dist in house lawyer calling them to bend there ears in facts of law,the calls stopped after that,but this other firm is niggling me,why after all this time do they decide to contact my wife stateing no knowlege of a das,we told them to put it in writing so we could show our cab office adviser who set the das up.

i think the was some of these call centres are a disgrace,the two people who called us yesterday didnt even know what a das was or how it worked,the manager that is demanded to talk to,when asked if she knew what a das was,said yes,then i asked here to explain what it was and how it was applied,she stuttered her way out of answering me and changed the subject and became all nice....its a joke...if this mob calls again with out sending me details in writing i am going to make noises with the OFT and the AIB about giving them a slap.

you see,these firms call in the off chance that you dont know your place and the law,rules that they have to work under,so they bend them,and they know how to push it to the limit and beyond,hoping that you will settle in full to get them off your back,but on the das you are protected by law,and one of the best legal systems on the planet,there must be 1000,s of people over the border that are at there wits end with credit companies calling and trying to bully them over the phone,but the laws on our side and these firms dont like it one bit.

regards battlestarone

got that off my chest

Confused_Scottish_Newbie

Hi
Looking for some advice please, and not really sure what to do, this is the first time I have posted on here.

What it is since Oct 2008 I have been in a debt management programme with Gregory Penington to pay off all my debt, was told it would take about 7/8 years, but nearly 2 years on and still the same amount of time. Anyway was contacted by advisor saying I would be able to apply for Trust Deeds, and in the middle of doing this, but starting panicking when paper work came through this morning and not sure what to do. At the moment currently owe about £20,000 between myself and husband, mostly all in my name though. We currently own our own home, and this was value recently by trust deed company, to see if we had any equity in this but at the moment when it is split between us with fees etc we dont have anything. We currently have a 2 year old and I am due again in 11 weeks time, and i am really starting to stress what to do for the best.

At first I thought the trust deed would have been ideal as it meant we would be free of debt in 3 years instead of 7/8 years, but what my worry is, is this the right route to go down. I know at the moment our credit rating is rubbish and no one would touch us, but eventually because we are only in a 2 bedroom house, would like a bigger house, but scared that no one will offer us a mortgage again if we go down trust deed, but if we dont do this does this mean we wont be able to move again until 7/8 years? I am unsure what a DSA is, this is the same idea what I am currently in at the moment with the debt management plan? At the moment Gregory Pennington take a fee of £25 per month of what we currently paying to creditors, which is £220 each month. with the trust deed, I think they are taking a fee also a month, but not sure how much, but think adding our to monthly payments it works out about £280 a month because added all our unsecured debt plus as we have a together mortgage they are wanting to add unsecured loan of this to trust deed also, and worried as read someone else been delcared bankrupty by Northern Rock.

i am really sorry to waffle on and if I have posted in wrong thread but any advice or help someone could offer would be much appreciated, really scared for the future and what is the best way forward.

Thanks in advcance.