What do Our Services Cost?

Debt Management Fees

No upfront fees!

Despite the fact that a significant amount of time and effort has to be spent in setting up your plan, Debt Advisory Services (Scotland), unlike many other Debt Management Plan providers do not charge any up-front fees or take higher monthly management fees in the early stages of your plan to cover the initial set up costs.

To ensure that your creditors receive higher payments from the first month of your plan, our set up costs are included in your monthly management fee and are spread throughout the duration of your plan.

To ensure that all of our customers are treated fairly and to reflect the amount of work involved in setting up and running your plan, rather than charging a percentage of your monthly payment, our monthly management fee for our Protocol Debt Management Plan, is determined by the number of creditors included in your plan.

Our monthly management fee has two elements:

• Each plans carries a Base Monthly Management Fee of £23.50
• Each plan carries a Creditor Administration Fee of £4.50 per creditor

Our monthly management fee for running your Debt Management Plan, which is included in your agreed monthly payment, will commence from the first month of your plan and is subject to a minimum fee of £32.50 and a maximum fee of £90.

No charges will be made other than the agreed monthly payments and you will not be asked to pay any amount over and above the agreed monthly payment.

Trust Deed Service and Fees

Debt Advisory Services (Scotland) Limited do not charge you any fees for the provision of our review, referral or Trust Deed services.
We do however receive a fee from insolvency Practitioner for the time it takes to prepare and submit your case to them. The fee that we receive from the insolvency Practitioner varies from case to case, with the average fee received being £1250 plus VAT.
Your trustee’s (Insolvency Practitioner) fees and the costs of administering your Trust Deed, will be agreed between the trustee and your creditors. They are deducted from your agreed contribution before any payment is made to your creditors.

Trust Deed Example

The example shown below is based on an actual client with £15,000 of unsecured debts.
She has agreed to contribute £150 per month towards a Protected Trust Deed which will last for 4 years. She has no assets or equity.

A breakdown of payments on this example:

Agreed Clients Monthly Payment	£150 x 48 months
Total repaid by individual	£7,200
Insolvency Practitioner fixed Administration fee	£2,500
Trustee’s % Based Realisation Fee( typically 20% of total realisations)	£1,440
Registration Costs (approximate costs)	£600
Total costs over 4 years	£4,540
Net paid to creditors – (Total contributions £7,200 less total costs £4,540)	£2,660
Total unsecured debt effectively written off on completion	£12,340 (82%)

DAS Fees

As the payment distribution fees are paid by your creditors, 100% of your payments are paid to your creditors. You may however, still have to pay a management fee in addition to your payments to your creditors if you decide to use the services of a continuing Money Advisor.

Clients, who have chosen a DAS scheme as their preferred debt solution are referred to one of our carefully chosen licensed Insolvency Practitioners who will then appoint a qualified money advisor who will act on your behalf.

Debt Advisory Services (Scotland) Limited do not charge you any upfront fees or administration fees for the provision of our review or referral services. We do however receive a fee from insolvency Practitioner for the time it takes to prepare and submit your case to them. The fee that we receive from the insolvency Practitioner is equivalent to the total of 2 months of your contribution, subject to a maximum of £600.

Once your case is passed to the Insolvency Practitioner, you will be informed in writing by them of the proposed fees prior to committing to a DAS scheme.

Full and Final Settlement Fees

We work on a No Win – No Fee basis

The fee that we charge for a successful claim is 20% + VAT of the amount of discount offered by the creditor.

Full and Final Settlement Example:

The example shown below is based on an individual with a balance on a credit card of £8000.
Debt Advisory Services offered a full and final settlement offer of £4,000 which was accepted by the creditor saving the client £4,000.
Debt Advisory fee = £4000 x 20% plus vat = £800 plus 20% (vat) = £960.
The total paid by the client = £4000 settlement plus £960 = £4960.

We operate on a No Win – No Fee basis – If our offer is unsuccessful we won’t charge you a penny.

Reclaiming Mis-sold PPI Fees

We work on a No Win – No Fee basis

The fee that we charge for a successful claim is 21% + VAT of the total award paid by the lender. We operate on a No Win – No Fee basis – If your claim is unsuccessful we won’t charge you a penny.
No Upfront Cost – We don’t charge an upfront cost either.

Reclaiming Mis-sold Packaged Bank Accounts Fees

We work on a No Win – No Fee basis

The fee that for a successful claim is 25% + VAT of the total refund made by your bank. We operate on a No Win – No Fee basis – If your claim is unsuccessful we won’t charge you a penny.
No Upfront Cost – We don’t charge an upfront cost either.