Debt Arrangement Scheme Scotland
Debt Arrangement Scheme (DAS) Scotland is run by the government of Scotland for the assistance and ease of the debtors who are given more time by the government in order to pay their debts after the original dates of payment have passed. This facilitates the debtors in a way that they don’t have to face any sort of court action as charged by the creditors or the last date hassles. The charges on debt, additional fee and interest are frozen by DAS when the application for debt is submitted. These charges on debt are applicable to be paid after the submitted application gets approved. Moreover, DAS writes off these charges when the DAS program is completed successfully. DAS is a free scheme which is provided to the people at local money advice offices approved by Scottish government along with citizen advice centers of Scotland. The debtor’s assets including home are protected by the scheme. DAS allows the debtors to set a debt payment program for themselves on affordable rates for their ease. This payment is solely based on the debtor’s amount of money which is left after the payment of utility bills. It is not based on the amount demanded by the creditors in the other schemes. During the course of the debt payment program, a creditor cannot increase the amount of debt and the creditor cannot make any sort of contact with the debtor. Furthermore, a debtor has the choice at his disposal to alter the payment program. If the debtor faces financial problems than he can apply to make changes in the payment program or can apply for a payment break of six months.
DAS is suitable for the people who live in Scotland and have some amount left with them every month after the payment of utility bills and who can easily manage to pay the debt after the agreed upon time period based on their owed amount, their outgoings and incomings. DAS is introduced to help the financially stricken families who are left to live from hand to mouth after spending their monthly income mostly on the utility bills. DAS puts the people at ease by solving their worries regarding money matters. It is aimed at protecting the Scottish citizens from the threatening legal actions put forward by the creditors and thus it maintains the dignity of the debtors. Those people who have financial problems can get help out of the hole through DAS with easy debt payment program. DAS is a way for the struggling borrowers to pay back their debts in a slow and steady way in order to get back on the top of their unsecured debts. DAS is a safe and secure debt payment program run by Scottish government for the aid of its people. It is in no way a bankruptcy, which many people might think of it to be. DAS is introduced to facilitate the Scots in the best possible way to lower their debt levels.