Could the Debt Arrangement Scheme be rolled out across the UK?

Posted on Wednesday, 14 December 2011 in Other Financial NewsThe legislation behind the debt arrangement scheme in Scotland changed in July this year and due to this and the recent success of the Scottish government DAS Scotland website and increased publicity, more people are now electing to choose this form of debt management in Scotland.

One of the key differences between debt arrangement schemes and debt management programmes, which are more common in England, Wales and Northern Ireland, is the legal protection against enforcement action or and the compulsory freezing of interest and charges, once approved that the DAS offers.

While many debt management programmes have gone on to reach a successful conclusion, the sad fact for a lot of people is that they have either failed to live up to the promise delivered by the debt management company or have accrued so much extra interest that the overall debt and length of repayment has far exceed the original intended length of repayment.

As a nation, Scotland can feel proud that we are leading the way with legislative changes to help our residents and so impressed with the way we have offered a real solution for real people, the insolvency service is said to be very interested in DAS.

At a recent Debt Resolution Forum Conference in Manchester, Trust Deed Scotland learned that some bodies down south also expressed admiration of how DAS is currently helping our people to manage their debts.

2012 is set to be a tough year for everyone across the United Kingdom and as a leading introducer of Trust Deeds in Scotland, Trust Deed Scotland are at the forefront of Scotland's personal debt fight, proving ethical debt advice to thousands of Scottish residents.

Should the debt arrangement scheme be UK wide?

Issues such as fuel poverty, rising cost of living and cuts in public spending are affecting everyone in the UK.
Earlier on in the year, Trust Deed Scotland reported on the significance of CAB funding cuts and how some individuals may be forced to seek help from self-regulated, unscrupulous organisations more concerned with generating their own revenues than making a genuine difference to the individual who they claim to be offering to help.

A UK wide, government approved debt management tool would certainly go a long way to helping people in debt, who are often in a vulnerable position.

Your Employment Status --SELECT-- Employed Unemployed Self-Employed Retired Student Your Total Unsecured Debts --SELECT-- £1,000 £2,000 £3,000 £4,000 £5,000 £6,000 £7,000 £8,000 £9,000 £10,000 £11,000 £12,000 £13,000 £14,000 £15,000 £16,000 £17,000 £18,000 £19,000 £20,000 £21,000 £22,000 £23,000 £24,000 £25,000 £26,000 £27,000 £28,000 £29,000 £30,000 £31,000 £32,000 £33,000 £34,000 £35,000 £36,000 £37,000 £38,000 £39,000 £40,000 £41,000 £42,000 £43,000 £44,000 £45,000 £46,000 £47,000 £48,000 £49,000 £50,000 £51,000 £52,000 £53,000 £54,000 £55,000 Over £55,000 This includes unsecured loans, credit cards, council tax arrears, bank overdrafts etc.

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