Debt Arrangement Scheme Scotland

Gill1985

Hi, I'm just looking for some information about a DAS ? I recently found out my husband had racked up £24500 across 2 overdrafts (that was some conversation).

I've since let my husband move back in and we are looking at how to pay everything off. There is 52k in debt of total going across loans, car, credit cards and the overdrafts. Our house currently has around 20k equity, I really don't want to lose our house. I've spoken to the debt helpline who were very helpful and have advised a DAS would be the best option as I have £921pm disposable income, With overdraft daily fee's at £192 across 2 accounts I cant get the debt down at all. I've not missed any payments on anything yet but it's getting to that stage now.

I contacted my local welfare rights and they have taken my details and a money advisor will be in touch, however the girl taking the details seemed to think bankrupty would be the best option.

I was advised by debt helpline that if I went bankrupt my disposable income could be taken for up to 6 years, the debt would be cleared within 4.5yrs on the DAS and house saved. I'm waiting to hear from the money advisor to hopefully apply for a das.

I've opened a safe bank account as advised which has no links with creditors, Awaiting getting wages and everything moved over.

Can anyone advise what the process is for applying for the DAS ? Will they require bank statements ? how long does it take to get approved ? How long do you have from when it's accepted to make the first payment ? Are bank accounts closed when you enter a DAS ? Thanks