DAS scotland ?

GOLFER

I thought the idea of the DAS scheme was to protect your house.

The house wont be sold now, so I wont have any spare cash to pay them.

I havent discussed any equity in the house with the advisor.

Im hoping that they will accept the DAS as I will hopefully be able to increase my monthly payments each year.

billybraggtastic

GOLFER,

Your house is safe and the equity has no bearing on the decision to grant the DAS application.

I had over £100k equity in my home (obv my wife would be entitled to half - god love her!)

Even if your creditors object to the DAS (I think it needs to be creditors in excess of 75% of the value of your DAS) the final decision rests with the DAS Administrator on whether your proposal to repay is fair and reasonable.

cheers
bbt

GOLFER

billybraggtastic wrote: »

GOLFER,

Your house is safe and the equity has no bearing on the decision to grant the DAS application.

I had over £100k equity in my home (obv my wife would be entitled to half - god love her!)

Even if your creditors object to the DAS (I think it needs to be creditors in excess of 75% of the value of your DAS) the final decision rests with the DAS Administrator on whether your proposal to repay is fair and reasonable.

cheers
bbt

Do you mean 75% of the DAS value object to the DAS then it might not be granted.