Hi Mark

Got a call this week to say that no creditors objected to the DAS and my money adviser will call me when the DAS Administrator gets back this week to him, does this sound like good news? I suppose im just thinking something else is going to go wrong!! I dont know if you remember but i was the one that the IP resigned as my Trust Deed failed to become protected due to the level of creditors objecting.

Any thoughts would be great!!

This does sound like good news sososad. How are you feeling about it?

Hi, sorry to be nosey, but what is a DAS ???

best wishes
George

It's the Debt Arrangement Scheme. Essentially it's similar to a Trust Deed in that you pay back what you can afford each month. Where it differs is that there is no element of debt write-off so payments will be continued until the full debt amount has been repaid. Unlike traditional debt management plans DAS does provide protection against continued creditor collection actions.

Hi and thank you

Hi sososad

I think it looks like the DAS will be accepted, however I am concerned that the debts will take approximately 20 years to repay.

Mark