Debt Arrangement Scheme in scotland

sophsters

Hi can anyone give me some pros and especially some cons with regards to starting a debt arrangement scheme please?

I have just spoken to an advisor in my local council about it and she said that the bank and my mortgage company will have tyo be told about our debt, i was wondering if this will cause me any problems? Would it interfere with remortgaging?

many thanks in advance!

sophsters

coolcait

Hiya Sophsters

As I understand it, the DAS is like a debt management plan, only it's protected by law, and creditors HAVe to freeze interest. And they can't take any kind of legal action against you once you're in it.

So, I'd guess that remortgaging on DAS should be much the same as remortgaging if you're on a DMP.

Did you ask your money adviser about this - maybe she could give you a better idea about the likely effect on remortgaging?

Sorry I can't be of any more help, but good luck!

GoBoldly

One of the best things I ever did was contact Glasgow Money Advice dept. India St.Glasgow

sophsters

Has anyone out there done as DAS and have any pros and cons at all? We are with the cccs at the mo doing a das and apart from one creditor, we are managing fine to pay off our debts slowly but surley but what worries me is that one of them turns around and says enought is enough we ant what you owe us now and take us to court. Suppose thats why a das would be the best option for us?