Hi Nicola

Having all your debts with one bank or lender shouldn't cause any problems if you decide to enter a Trust Deed or a Debt Management Plan or even DAS.

It's not that uncommon as a lot of people have been with the same bank for years and tend to stick with them and get loans etc from them.

Speak with the CAB next week and I'm they will run you through the options.

Mark

Thanks Mark

Sorry but I'm not sure what DAS is.

Nicola

Sorry Nicola, I should have expanded a bit.

Very generally its a legal scheme to pay off your debts over an extended period. You would require to pay the debts in full, although it does stop legal action and interest being added to your debts.

There is a summary of how it work on the left hand blue panel thingys on this page.

Most CAB offices will have someone who will do DAS for you free of charge or I'm sure can put you in touch with someone who will do it. It may well be an option for you, but best ask the person at the CAB.

Mark

Hi nicolath82.

DAS is an abbreviation for the Debt Arrangement Scheme.

There is some more information about it at:

https://www.trust-deed.co.uk/debt-arrangement-scheme.html

You may wish to consider changing your working bank account (the one you use to get money paid into and out of into) to another bank, as this is onmwe problem that can arise from having all your or some of your debts with the bank, you bank with. Don't worry though, the CAB will explain this to you and you have a meeting with them on Tuesday.

One point unfortunately, DAS does not stop all legal action by your creditors, like Mark said, but it does stop legal enforcement action. I would cut and paste the section, but I am sure one of the CAB volunteers will explain it.

Good Luck 🙂 I am sure it will all work out and well done for getting advice.

A bit picky perhaps Robinhood?

The forum works on a practical level. In practical terms, once DAS is up and running does the user need to worry about legal action from included creditors?

I'd rather you didn't offer me advice.

You're comments seem to offer nothing other than to have a pop at people, insult them or tell us your opinion. You should appreciate that people, me included, are seeking information, advice and help to something which we know nothing about. You have offered little and everything you say seems to be pointed at Mark for some reason. I have followed the forum for a while and Shona, Mark, Kevin, Paul and many others have offered great and simple advice.

I'm sure there are many places who will appreciate your advice, I don't.

Nicola your right I have been having at pop at Mark and he knows why. Anyway, the advice will be the same at the CAB and any other firm you go to as I have beeen writing and delivering the training to the private, public and voluntary swctor for the last 5 years.