Debt Arrangement Scheme - Scotland
Debt Arrangement Schemes (DAS) and Debt Payment Programmes (DPP)
(Only available in Scotland!)
1: A debt arrangement scheme or DAS is possible if a debtor has only one creditor, as long as the debt is not currently subject to a time to pay direction or time pay order (Debtors Scotland Act) or time order (Consumer Credit Act).
3: A DAS or DPP will allow a debtor to extend the period of repayment whilst freezing interest and charges being applied to their accounts.
4: Debt arrangement schemes can last for any reasonable period of time.
5: Debtors are protected from further creditor action whilst subject to a DAS or debt payment programme.
6: Only a DAS approved money advisor can apply for a debt payment programme on behalf of a debtor.
7: A debtor cannot apply for DAS or DPP when already subject to a Trust Deed or Sequestration in Scotland.
8: DPP's or a DAS is still possible if debts are in joint names