Scotland
Debt Arrangement Scheme
A statutory Scottish plan where you repay what you owe in full at a pace you can afford, with interest frozen by law.
- Typical term
- As long as it takes to repay in full
- Type
- Statutory repayment
- Available in
- Scotland
What it is
The Debt Arrangement Scheme, run by the Accountant in Bankruptcy, lets you pay your debts in full through a single monthly payment. Interest, fees and charges are frozen by statute for the life of the programme.
Who it tends to suit
- You live in Scotland
- You want to repay everything rather than write any of it off
- You have a steady income you can budget around
Benefits
- Interest and charges frozen by law
- Protection from creditor enforcement action
- You repay in full, so no balance is written off against you
- Payments can be reviewed if your circumstances change
Things to weigh up
- Can run for many years depending on how much you owe
- Recorded on the DAS Register and affects your credit file
- Missing payments can bring the programme to an end
If you own your home
Your home is not at risk because of the scheme itself, and there is no requirement to release equity.
Not sure this is the right fit?
The finder compares this against every other UK route based on where you live and what you owe.
Compare my optionsMay not be suitable in all circumstances. Fees apply and your credit rating may be affected. Arcadia is an information service — always consider free, independent advice before deciding.