If you’d like to find out whether you would qualify for a formal debt solution such as the Debt Arrangement Scheme (DAS) you should give us a call on 0141 456 8588 and you can then speak to an experienced debt adviser to find out what your options are.
Your circumstances are unique to you and by getting tailored debt advice, you will have a clearer idea of the types of formal debt solutions you may be eligible for.
In addition to qualifying for a DAS, you may also qualify for a Protected Trust Deed which may allow you to write off a significant amount of unaffordable debt.
To qualify for the Debt Arrangement Scheme you would typically:
- Have at least one debt.
- You have taken advice from a DAS approved Money Adviser, such as Scottish Debt Expert. (Harper McDermott)
- You live in Scotland.
- You have surplus income to repay your debt(s) after paying for your general living expenses and household bills
- You are not in a Trust Deed or currently Sequestrated (Bankrupt).
Couples who live together as spouses, civil partners of each other or are living together as if spouses of each other can apply for a joint Debt Payment Programme, even where they are not jointly liable for any debt(s).
There are other informal arrangements such as a Debt Management Plan however the last formal Scottish debt solution that suits some people best is Sequestration. Scotland’s equivalent to Bankruptcy.