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Take control of your finances with a Debt Arrangement Scheme
A Debt Arrangement Scheme (DAS) is designed to help Scottish residents repay debts through a debt payment plan.
With a Debt Arrangement Scheme, you will be able to pay off debts over an extended period, whilst giving you protection from your creditors taking action against you.
Dependant on your circumstances, we may refer you to a Debt Arrangement Scheme provider. Once you’ve entered a DAS, all interest and charges will be frozen and your creditors will no longer be able to take legal action against you, providing you continue to follow your agreement and monthly payments.
If you find that your circumstances change during your agreement and you have a reduction in your income, it may be possible to take a payment break for up to 6 months.
After completing a debt assessment, if we find that an IVA is not a viable option for you, but a DAS could be suitable for you then we can refer you to one of our trusted partners who can work with you to get it set up.
To qualify for a Debt Arrangement Scheme, you must:
Lucy Novo Deakin is a licensed insolvency practitioner in the UK by the Insolvency Practitioners Association (IPA).
My Debt Plan Ltd provides insolvency solutions to individuals, specialising in IVA’s. All advice given is provided in reasonable contemplation of an insolvency appointment. Where you are not suitable for an IVA, we may refer you to one of our trusted partners who specialise on alternative solutions, and as such we will receive payment for the introduction if you enter into a debt solution with one of our partner companies.
Registered address 2nd Floor Blenheim Court, Cheadle, Cheshire, England, SK8 2JY Company Registered in England and Wales Number 10992838 Data Protection ZB284067.
To find out more about managing your money and getting free advice, visit Money Helper, an independent service set up to help people manage their money.
*Our advice on your options is always free. We will always notify you if a solution you choose has any cost.
**Of 2,381 IVA cases approved between January-December 2023, the average expected write off assuming successful completion is 74%.
A debt write off amount between 25% and 75% is realistic, however, the debt write off amount will differ for each customer upon their individual financial circumstances and is subject to approval of their creditors. Any remaining qualifying unsecured debt in your IVA will be written off, however some unsecured debts will be excluded, such as court fines, child maintenance and student loans, therefore you will need to continue paying these both during and after the IVA.
