What is a DAS?
There are a number of debt management solutions open to you, and one of the more popular is a Debt Arrangement Scheme (DAS). If you’re been struggling to get out of the debt spiral without success, this could be an option for you. Over the years, BlueSky Finance have helped many people to acquire the peace of mind they crave via a DAS.
You’ll find many advantages to a DAS, as well as a handful of disadvantages. It’s only available to people in Scotland, and you need to apply for it through an approved organisation such as BlueSky Finance. If you sign up to a DAS, you will finally have some much-needed breathing space. In return for that breathing space, you’ll need to commit to regular monthly payments for the duration of the agreement.
Your payments will be far more manageable from then on. Interest charges will be frozen once the scheme is in motion, so you won’t see your overall debt increasing. Crucially, your creditors will no longer be able to contact you demanding more money from you, and they won’t be allowed to instigate legal proceedings in relation to the relevant debts.
If you have equity in your home, you won’t be forced to release it in order to reduce your debt. It’s important to remember that with a DAS you won’t have your debts written off. You will still need to pay 100% of what you owe, but you will of course have a great deal more time to pay.
As always, the team at BlueSky Finance can advise you on all aspects of a Debt Arrangement Scheme. Call 0141 488 2212 soon for a friendly, no obligation chat with our experienced and knowledgeable team.