Help to pay off debt in a manageable way
MANY people find themselves in debt, often due to circumstances beyond their control.
Debt doesn’t come alone and often follows other difficult bedfellows such as divorce or ill health.
When people are reeling from a life- changing crisis, mounting debt often takes second place.
But too many Scots find themselves bankrupt or with a trust deed when they could be eligible under the Debt Arrangement Scheme ( DAS).
A DAS is a way for people to ease their financial strife by paying off their debts in a manageable way.
More people could be accessing vital help and setting up a DAS, which is a repayment plan that freezes all charges and legally stops creditors’ demands.
Knowing they are going to pay back their debts in full often gives people a feelgood factor.
Instead, many families trapped in debt find themselves in a desperate struggle to keep up with repayments, facing spiralling costs and intimidating demand letters.
The Scottish Government is encouraging people to consider DAS as a first option before thinking about entering an insolvency solution as these have much more serious consequences.
And we are backing a campaign to reassure people there is a way to pay back what they owe and keep their head above the water.
We will signpost readers to trained money advisers who will be able to offer advice, stop creditors demands, and find a way to repay debts over a reasonable time.