It can help you if you are in debt by giving you time to pay and by stopping your creditors taking enforcement action. Creditors cannot block the scheme if it is fair and reasonable.
A debt payment programme (DPP) under DAS can include any debt you are personally liable (responsible) for, whether court action has been taken against you or not.
If you are a sole trader and have business debts, these can also be included.
You can only apply if:
DAS is not for everyone. You cannot apply for a DPP if:
If you think that DAS might help you, see a money adviser. All money advisers should be able to help you decide whether a DPP is the best option, though only DAS-approved money advisers can apply for a DPP for you.
Your money adviser will check how much money you can spare after you have paid your normal living expenses.
They will then try to set up the DPP with your creditors and apply to the DAS administrator (Accountant in Bankruptcy) for approval.
The DAS administrator (Accountant in Bankruptcy) is a civil servant in the Scottish Executive who oversees the whole scheme. Please note that DAS is not bankruptcy. A Sequestration is a bankruptcy procedure.
If the DPP is approved, it will be recorded on the public DAS register. You will make a single lump sum to a payments distributor, allocated by the DAS administrator, at agreed intervals (for example, weekly or monthly). The payments distributor will distribute this money to your creditors. This will carry on till you have paid off your debts in the DPP.
If your money situation changes, your money adviser can apply to the DAS administrator on your behalf to vary the DPP to take account of this. If you do not make payments or if you do not keep to any other agreement you made when signing the DPP application, your money adviser or any of your creditors can apply to have your DPP revoked by the DAS administrator.
DAS offers a number of advantages:
If you feel DAS may be appropriate for you, click here to contact us so that your nearest Begbies Traynor Adviser can contact you to arrange a free initial interview.
Begbies Traynor is Scotland’s leading independent, business rescue and recovery specialist dealing with financial management and Personal Insolvency assignments of all kinds and is able to offer a personal and sympathetic approach to people’s financial problems.
You will have the assurance of dealing with a leading Scottish firm with offices in Aberdeen, Dundee, Edinburgh and Glasgow. If you require further details about debt arrangement schemes you can do so by visiting our dedicated Scottish personal insolvency website.
We hope that you will be satisfied with the service that we provide, but we recognise that there may be occasions where you will not be satisfied with the way in which the matter has been dealt with. In those circumstances please refer to our Complaints Procedure.