What is a Debt Arrangement Scheme (DAS)?
The Debt Arrangement Scheme is a legally binding debt repayment programme that allows you to repay your qualifying debts back in full, over an extended period of time, whilst protecting you against further creditor enforcement action. This is done through a Debt Payment Programme (DPP).
You will need to speak to a Money Adviser to arrange a DPP (see Money Adviser Map for more information about finding a Money Adviser).
A DPP can last for any reasonable length of time and is based on your disposable income (how much money you have left over each month after your essential living costs).
Interest, fees and charges are frozen whilst you’re in a DPP and will be written off on successful completion of the programme.
Before you can enter a DPP, a money adviser or DAS Administrator will submit your application to your creditors for their approval. Assuming that no creditors reject your proposal within 21 days of submission, all of your creditors will be bound by the terms of the DPP. Even if one or more creditors do reject your proposal, the DAS Administrator can still approve the DPP if it is fair and reasonable to do so.