Scotland Debt Arrangement Scheme

What is a debt
arrangement scheme?

If you live in Scotland, there are different debt solutions available to help those in financial difficulty. These include trust deeds, debt arrangement schemes and sequestration, as well as other common debt management plans.

Key facts of a
debt arrangement scheme

Debt arrangement schemes allow you to pay off debts through management instalments in a reasonable amount of time
Sequestration is the Scottish version of bankruptcy
Trust deeds involve making monthly contributions to your debts for a period of up to four years. After this, any residual debt is eradicate

Is a debt arrangement scheme right for me?

If you’re in financial difficulty and struggling with sheriff officers, mortgage arrears, payday loans, credit card debt and so on, finding the right debt solution is essential. The right debt solution will be dependent on your individual circumstances.

DAS

The debt arrangement scheme (DAS) is an option if you have sufficient funds to make regular payments and don’t want to sell your home. It may also be appropriate if your job is affected by other debt options.

Trust Deeds

A trust deed is a type of personal insolvency, with a formal agreement made between you and your creditors. They are an alternative to sequestration if you find yourself unable to pay back large unsecured debts.

Sequestration

Sequestration - or Scottish bankruptcy - is a debt solution that can help you write off unsecured debts. It is intended to be a last resort when you are genuinely unable to settle your debts.

Debt report

Having a debt report compiled of your incomings and outgoings will help you decide which debt solution is the most appropriate for you and your financial situation.

DAS

Trust Deeds

Sequestration

Sequestration - or Scottish bankruptcy - is a debt solution that can help you write off unsecured debts. It is intended to be a last resort when you are genuinely unable to settle your debts.

Debt report

Having a debt report compiled of your incomings and outgoings will help you decide which debt solution is the most appropriate for you and your financial situation.

What happens next?

If we find that you are eligible for a debt relief order, we will be able to refer you to our partner for your application to be processed. For residents of Northern Ireland there is a fee of £90 which must be paid before the application is submitted; for residents of England & Wales, there is no fee to pay. If we find that a DRO is not suitable for you, then we will look into other debt solutions that suit your current circumstances.

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A debt arrangement scheme will work for…

If you’re struggling to make repayments on unsecured or secured debts, it may be beneficial to seek impartial debt advice and guidance to help you regain control of your finances so you can start enjoying life once again.

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A debt arrangement scheme will not work for…

There are different debt solutions available and it depends on your personal circumstances as to which would be the best route for you. For further help and advice, get in touch with us today.

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Personal Loans

Lines of Credit

Court Fines

TV-license Arrears

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Social-fund Loans

Rent Arrears

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The upsides to using a debt arrangement scheme?

A DPP is more flexible than some options and you can apply for payment breaks

Once your DPP is complete, your debts are paid in full

Legally binding, offering protection from creditors

Fees for the DPP are covered by the payments you make

The downsides to using a debt arrangement scheme?

Your credit rating will be impacted for six years

If you fail to maintain payments, you could be subject to further action, interest and charges

Your DPP will appear on the public register

Your DPP is subject to approval

How can we help?

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How can we help?

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What is a debt
arrangement scheme?

Key facts of a
debt arrangement scheme