DAS Completion

Buddy1980

Does anyone have any experience of the process for ending a debt arrangement scheme (DAS Scotland). Mine has been organised through Wilson Andrews though I think this is now a different company.

It is due to end in a couple of months and I am just wondering what I can expect to happen if anyone has been through this process?

Thanks!

sourcrates

Hi,

A DAS is the Scottish equivalent of an IVA, more or less.

Congratulations on been near the end of your arrangement, I would assume on completion, any charges or added interest will be written off, and you will probebly Recieve some kind of completion certificate.

That's about it really, no fanfare, or beating of drums, however you will be debt free, so might be worth a little celebration !!!!

National_Debtline

Hi

I don’t have experience personally but essentially your debts will be classed as paid off.

According to the DAS Scotland website your details will be removed from the DAS register and your creditors will be informed that your debts are now repaid. I’m not sure whether you’ll actually receive anything regarding the completion though.

It refers to a DPP but that’s the payment programme under the DAS.

www.dasscotland.gov.uk/node/345

Ideally you should contact your DAS Administrator to check with them. If you aren’t sure if it's a different company running it for you now the Accountant in Bankruptcy might be able to tell you:

www.aib.gov.uk/about-aib/contact-us

James
@natdebtline

coolcait

Congratulations on being so near the end!


Unless you've asked for things to be changed, Wilson Andrews will still be your money adviser. Your payments Distributor will be Think Link - part of the same organisation, but doing a different job in DAS.


Once you've made your final payment, Think Link will contact the DAS Administrator - which is one of the roles played by the Accountant in Bankruptcy.


Once the DAS Administrator confirms that your DPP has been closed, Think Link will send you a letter confirming that your DPP has been completed.


They will also send a letter to all your creditors confirming the same thing, and letting them know that you no longer owe anything (including interest and so on).


Your name will also be taken off the DAS Register.


If any of your creditors try to argue that you do still owe them money, give Wilson Andrews a call. They should be able to put the creditor right!


Finally, just to be clear about this (especially as it's run by the 'Accountant in Bankruptcy'!), DAS isn't the Scottish equivalent of an IVA. The closest Scottish equivalent to an IVA would be a Protected Trust Deed. IVAs and Trust Deeds are forms of insolvency. DAS isn't insolvency.


DAS doesn't have an English equivalent. The best way to describe it is as a legally binding debt management plan - so creditors have to freeze interest and so on.


HTH

sourcrates

coolcait wrote: »

Congratulations on being so near the end!


Unless you've asked for things to be changed, Wilson Andrews will still be your money adviser. Your payments Distributor will be Think Link - part of the same organisation, but doing a different job in DAS.


Once you've made your final payment, Think Link will contact the DAS Administrator - which is one of the roles played by the Accountant in Bankruptcy.


Once the DAS Administrator confirms that your DPP has been closed, Think Link will send you a letter confirming that your DPP has been completed.


They will also send a letter to all your creditors confirming the same thing, and letting them know that you no longer owe anything (including interest and so on).


Your name will also be taken off the DAS Register.


If any of your creditors try to argue that you do still owe them money, give Wilson Andrews a call. They should be able to put the creditor right!


Finally, just to be clear about this (especially as it's run by the 'Accountant in Bankruptcy'!), DAS isn't the Scottish equivalent of an IVA. The closest Scottish equivalent to an IVA would be a Protected Trust Deed. IVAs and Trust Deeds are forms of insolvency. DAS isn't insolvency.


DAS doesn't have an English equivalent. The best way to describe it is as a legally binding debt management plan - so creditors have to freeze interest and so on.


HTH

Thanks for clarification, I wasn't too sure, but your description seems spot on !!!