Debt Advice Lines

0800 002 9899

0141 848 6353

 

Police Officers and Debt

Getting Debt Advice

Risk Control – How Your Employer Views Debt Issues

Disclosure Obligations

A Choice Of Debt Solutions

Trust Deed

Debt Arrangement Scheme

The Debt Arrangement Scheme is also known as DAS. It’s a formal version of a debt management plan.

 

It has several advantages over a debt management plan. Once accepted, you have legal protection from your creditors. Interest cannot get added while you stick to the plan.

 

A payment distributor sends payment to your creditors. A continuing money adviser liaises with you and your creditors.

 

It might be suitable if your debts can get cleared in a reasonable period. No debt gets written off.

 

Your assets aren’t taken into account.

 

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Debt Management Plans

 

This is an informal way to address your debts. The creditors are asked to suspend interest and charges. They’re asked to accept a reduced monthly payment. The plan ends when your debts are repaid.

 

The debt management plan provider sends payment to your creditors. They liaise with your creditors as necessary.

 

Debt management might help if your debt level is modest. With creditor support, the debts get cleared reasonably quickly.

 

Your assets aren’t taken into account.

 

Debt management can help if you have a short-term money issue. Examples include waiting upon a retirement lump sum or injury claim.

 

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Bankruptcy

 

Bankruptcy can be a fast and cheap way to address debt problems. If your debt problems are serious, consider bankruptcy.

 

You should get discharged from your debts after twelve months. If affordable, you’ll be required to pay into the bankruptcy for four years. The Scottish bankruptcy application fee is £200.

 

You’ll need to obtain money advice first. You need a “certificate for sequestration”. This gets issued by the money adviser. It supports your application.

 

Certain assets (like your home) get taken into account. A sale of assets is possible.

 

Read more…

 

Contact Us For Help

 

 

AMI Financial Solutions Limited. Company Number: SC533818. Trading Address: Unit 1017, Mile End Mill, Abbey Mill Business Centre, 12 Seedhill Road, Paisley, PA1 1JS. Tel: 0141 848 6353.

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Trust-Deed.co.uk, c/o AMI Financial Solutions Limited, Unit 1017, Mile End Mill, Abbey Mill Business Centre, 12 Seedhill Road, Paisley, PA1 1JS. Tel: 0141 848 6353.