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DAS Example

Here is an example of how a Debt Arrangement Scheme could make your debts affordable:

Let say your unsecured debts
looked like this...

Credit Card: £4,000

Personal Loan: £19,000

Store Card: £5,000

Total Owed £28,000

Current monthly£1,100

After a DAS...

New monthly£194

New monthly repayment is based on affordability and varies from plan to plan.

Key information

Visit our FAQ Section for any in depth information on Debt Arrangement Schemes

Why Choose Us?

We are expert providers of Debt Arrangement Schemes. We offer free help and advice on debt solutions and can guide you in the right direction with regards to your debts.


Debt Arrangement Scheme

Reviewed by

Julian McGregor on Feb 08th.

""Superb advice and very knowledgable!!""

Rating: 5 5 star rating


See more testimonials here...

How does a Debt Arrangement Scheme affect my assets?

If like many people, you’ve spent a long time and made many sacrifices over the years building up your assets, to think that your current financial situation could mean losing them all is a bitter pill to swallow. If you were taking out a Trust Deed or being sequestered, you would have to hand over all of your assets to a Trustee for sale. With A Debt Arrangement Scheme on the other hand, whether or not your assets are sold is not necessarily a foregone conclusion.

It all boils down to whether the A Debt Arrangement Scheme administrator stipulates a discretionary condition, which basically means they have looked at your Debt Payment Plan (DPP) and want you to fulfil certain additional conditions before they approve it.

Standard and discretionary conditions

Having the DPP is dependent on you agreeing to a certain number of standard conditions, which include:

  • Making payments when due
  • Not applying for more credit than allowed under the DPP
  • Notifying a money adviser of any change in circumstance
  • Supplying all documents to a money adviser when requested

These are all fairly straightforward and quite reasonable. However, when sent for approval, the A Debt Arrangement Scheme administrator could also make a discretionary condition on your DPP, which could involve the sale of assets they deem ‘non-essential’.

What are essential and non-essential assets?

Essential assets are those you require for day-to-day living or to generate an income necessary to make payments. The key term in the A Debt Arrangement Scheme rules about essential assets is that they are ‘reasonably required” and these would include:

  • Clothing
  • Medical aids or medical equipment
  • Items for the care and upbringing of a child in your household. This includes toys
  • Implements, tools of trade, books or other equipment needed in the practice of a household member’s profession, trade or business, not exceeding £1,000
  • Books or other items required for the education or training of you or a any member of your household not exceeding £1000

Items such as furniture, cooking, cleaning and laundry equipment, computers, televisions and recording equipment are exempt. Your home is also considered an exempted asset, so under A Debt Arrangement Scheme you will not lose your home, be deprived of the means of working or living on a day-to-day basis.

Non-essential assets are those that fall outside of this..

During your initial assessment and debt counseling, your money adviser will list your assets and make an initial valuation of them. In some cases they will require receipts if you have them, but often they will use price guides and any information you provide. Non-essential assets could include additional cars that you own besides the one you use for work or business, or perhaps an expensive model of car that you own outright which could be sold for a less expensive model. Lifestyle assets like second homes could also be included.

There is always the risk that the A Debt Arrangement Scheme administrator will want some of the value of these non-essential assets to be released, as this may be deemed to be the fair and reasonable course of action to satisfy creditors who have agreed to extend your payment term.

Whether or not your Debt Payment Plan gains approval will depend upon you agreeing to the discretionary conditions the A Debt Arrangement Scheme administrator requires. If you believe the discretionary conditions requested are not fair, you have the right of appeal and can request the Sheriff’s office review your case. However only one appeal is possible so if the Sheriff upholds the discretionary conditions, to go forward with your DPP means you have to accept them.

For more information about discretionary conditions and A Debt Arrangement Scheme, call to speak in confidence to one of our A Debt Arrangement Scheme consultants who will talk you through your options and point you in the right direction.

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