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We could help you explore the debt arrangement scheme

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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 happends next?

If we find that you are eligible for a debt relief order, then we will complete your application for you, as this cannot be done on your own. It costs £90 to arrange a debt relief order, which can be paid in installments over 6 months, but you will need to pay the full fee before the applcation is submitted. 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.

Credit Cards

Payday Loans

Store Cards

Overdrafts

Personal Loans

Lines of Credit

Business Debt

Catalogues

Online Debt Advice
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Our Fees

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.

Personal Loans

Lines of Credit

Court Fines

TV-license Arrears

Student Loans

Lines of Credit

Social-fund Loans

Rent Arrears

Online Debt Advice
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Our Fees

Why choose a debt arrangement scheme with Fresh Start UK?

Fresh Start UK has helped more than 12,000 people gain control of their finances and be debt-free. If you’re struggling with debt and finding it tough to keep up with your bills, speak to an adviser today.

Online Debt Advice

The upsides to using a debt arrangement scheme?

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

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

img Legally binding, offering protection from creditors

img Fees for the DPP are covered by the payments you make

The downsides to using a debt arrangement scheme?

img Your credit rating will be impacted for six years

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

img Your DPP will appear on the public register

img Your DPP is subject to approval

Ready to get started on the path to financial freedom?
Online Debt Advice
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Money Helper has replaced the Money Advice Service and brings together the support and services of three government-backed financial guidance providers: the Money Advice Service, the Pensions Advisory Service and Pension Wise.