Anyone completed a Debt Arrangement Scheme (DAS) succesfully?

Worried_Girl

I am now into month 4 of a joint DAS with my husband. We owe around £59K and are repaying £1500 per month. We want to pay as much as possible and this still leaves us with £1000 per month after priority debts are paid so we have a comfortable amount left for food, petrol, entertainment etc. I feel this is realistic for us if our circumstances don't change! We should be debt free in less than 3 years and I feel really positive that we have paid £6000 or 10% of total debt in such a short space of time. We were paying more than that for the last couple of years just in minimum payments and making NO headway into overall balances.

Does anyone have any stories to share about DAS?

cakeadoodle

Well done for taking charge of your debt! Not only will you be free from your debts when you get to the end of your joint DAS, you'll be used to operating on a reduced budget so hopefully you won't end up back in the same position It sounds like you are making good headway.

As long as you keep paying every month, all of the interest and charges will be wiped out when the DAS ends. That's the part that makes a real difference as trying to pay off debt whilst the charges are mounting up is like trying to swim in treacle!

It sounds like you've set up a realistic plan and you should manage to stick to it.

Good luck!