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What happens next?
Our expert debt advisors are on hand offer tailored help and advice to find a debt relief solution to suit you.
1. Review
We conduct a full, in-depth review of your income and outgoings with you.
2. Understand
We’ll help you work out what you can afford to pay each month.
3. Recommend
We’ll recommend the best solution for you based on your individual circumstances.
Benefits of a debt solution
No more borrowing from friends and family
Stop the stress of bills you can’t pay
Get rid of those Payday loans
No running out of money so soon after pay day
Write off most types of debt including:
Credit Cards
Lines of Credit
Store Cards
Loans
Overdrafts
Business Debt
Credit Cards
Loans
Store Cards
Lines of Credit
Overdrafts
Business Debt
…and much more!
Frequently asked questions
What is the Debt Arrangement Scheme?
The Debt Arrangement Scheme (DAS) has been put in place by the Scottish Government. It allows people who are able to repay their debts in full given enough time, the ability to do just that. If a DAS is approved you will have protection from your creditors, including freezing interest and charges, whilst you make payments under the DAS.
In DAS you propose a monthly payment to your creditors, which would allow your debts to be paid in full over time. If your creditors agree then the DAS will be approved.
In addition to you and your creditors, there are three parties involved in the administration of a DAS:
- The Continuing Money Adviser, who provides initial money advice, assists in preparation and submission of an application for the approval of a DAS and provides ongoing support throughout the term of the DAS, including annual reviews of financial circumstances. When you apply for a DAS through Cleanslate, we take on the role of your Continuing Money Adviser.
- The Payment Distributor, who distributes funds to creditors each month following your monthly payment being made.
- The DAS Administrator, who is responsible for the approval of debt payment programmes (DPPs), approving money advisers and payments distributors and maintaining the DAS Register and eDEN (the online case administration system used for administration of all DPPs under DAS).
Once a DAS is approved, the costs of administering the scheme are borne by your creditors. So, for every £1 you pay into DAS, 78p is distributed amongst your creditors, 2p is paid as a fee to the DAS Administrator, and the remaining 20p is paid as fees split between your Continuing Money Adviser and your Payment Distributor.
On successful completion of a DAS, creditors will have received 78% of the debt owed to them. You cannot be held liable for any further payments towards debts included in the DAS, or any interest, fees, penalties or charges which would have accrued during the scheme.
Who can apply for the Debt Arrangement Scheme?
The Debt Arrangement Scheme is available to any individual (or couple) living in Scotland struggling with unsecured debt (with a small number of exceptions). You cannot apply for the Debt Arrangement Scheme if:
- You are in a protected trust deed.
- You have been declared bankrupt, and have not yet been discharged.
- You are subject to a time to pay direction or order.
- You are paying debts under a conjoined arrestment order.
What debts are included?
The Debt Arrangement Scheme covers all of your unsecured debts, for example credit cards, store cards and catalogue debts, overdrafts, unsecured loans, payday loans and debt owed to HMRC. It also includes arrears on your mortgage, rent, utilities or council tax.
Will people find out?
Will my house, car and personal possessions be affected?
Your home will not be included regardless of its value. However, if you have significant equity in your property, it may be worth considering whether you have alternative means of raising funds to reduce your debts.
Your car will also be excluded, however, if it is of high value you may want to consider replacing this with a lower cost alternative to help reduce your debt level.
Your household goods such as furniture, computers and electrical equipment will not be taken into consideration. If you own property in addition to your own home, have investments or savings, or any non-essential household items of value (such as jewellery or antiques) you may want to consider using these to reduce your debt level.
Can I still have a bank account?
You can still use a bank account; however you won’t be able to use an overdraft facility.
Will my credit file be affected?
Your credit file will be updated to show that you have entered into a debt payment plan. This means you won’t be able to obtain credit while you’re in this plan, and may find it difficult to do so for a period after this has ended. You may however find that you have less need to borrow anyway, having taken back control of your finances.
Are there any fees?
There is no upfront fee required to apply for a DAS. This is the same whether you apply to the scheme through a private sector organisation such as Cleanslate, or through a free sector advice agency such as a Citizens Advice Bureau or debt charity.
Once a DPP is approved, the costs of administering the scheme are borne by creditors. So, for every £1 you pay into DAS, 78p is distributed amongst your creditors, 2p is paid as a fee to the DAS Administrator, and the remaining 20p is paid as fees split between your Continuing Money Adviser and your Payment Distributor.
[insert company name] would receive ongoing fees as a Continuing Money Adviser under DAS. Details of the amount of this fee would be explained to you in the engagement letter issued prior to making an application for DAS.
To find out more about managing your finances and receive free debt advice, you can visit Money Helper.
What is Money Helper?
To find out more about managing your money and getting free advice, you can visit Money Helper, an independent service set up to help people manage their money.