If you need debt advice we can help

[Richieboy]

I already have a debt repayment agreement with Payplan, which is an English company. As I live in Scotland, would I be better moving to a Scottish company?

[Carla]

Hello Richieboy and welcome to the forum.

If you live in Scotland it really does not matter that you are dealing with a debt management company based in England. However what does matter is that you are currently in a debt management plan when you would probably be better off starting a Debt Arrangement Scheme (DAS). This is an option only available to people living in Scotland and is generally viewed as better than a DMP as it is legally binding and you get legal protection from your creditors who can not then take further enforcement action against you or your property. If I were you I would speak to PayPlan about starting a DAS

[Geraldine]

Hi there Richieboy

I totally agree with Carla. The debt solutions available to you if you live in Scotland are totally different to those available if you live in England. If you are already in a Debt Management Plan you do need to consider moving to a Debt Arrangement Scheme (DAS) at the very least. You should also consider the Trust Deed option.

If I were you I would speak to PayPlan about these options asap. If they cannot help then you should certainly consider changing to a company who can.

[Richieboy]

Thanks very much for your advice. I will speak to them about the DAS option as from reading the information on your site it does seem more beneficial for me. Some of my creditors are still adding interest and I understand that the DAS would stop that right?

[Kelly O]

If you live in Scotland and you can do a DAS it is usually the prefered option as you are guaranteed legal protection and interest to be frozen.

I wonder why Payplan have not mentioned DAS to you as an option

[James Falla]

Hi Richieboy

I agree with the other posters, you should certainly consider the DAS and perhaps even the Trust Deed options as either could be better for you than continuing with a DMP. The DAS option once in place will mean that your creditors are no longer able to add interest. You should speak to PayPlan about these options. I would be very interested to hear what they say. As Kelly mentioned, it is strange that they did not suggest the DAS to you from the beginning.....