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This is the place to ask questions about DAS
By Nuts
#22467
I have been on a debt management plan for 12 months but 3-4 of my creditors are still adding interest. I have been reading that I could start a DAS and that would mean that they would have to stop the interest. Is that right? I have been paying £118 a month to my debt management plan. Would that be enough to start the DAS? Thanks
#22473
Hi there Nuts and welcome.

I assume that you are living in Scotland. If not then you will not be able to take advantage of the Debt Arrangement Scheme (DAS). If you are in Scotland then you will be eligable and it would definitely be worth your while applying. Once in a DAS all your creditors are legally obliged to stop adding interest and charges. You can certainly start a DAS with payments of £118 a month. In the same way as a debt manageme plan you still have to repay all of your debt so there is really no lower limit to the amount you have to pay each month.
#22477
Hi Nuts.

Could you tell us how much you owe? If it's a significant sum DAS may not be an available option as there will be concerns (from the adviser and the creditors) about a term that seems unrealistic.

10 years is a term that is often mentioned as being on the threshold. Therefore if your debts are much above £14000 there might be a question mark over whether DAS is best for all of the parties.