Debt Management Plans

If you’re struggling with debts and are looking for a simple way to manage your finances, then an individually tailored Debt Management Plan Scotland could be just what you need.

A Debt Management Plan Scotland can:

  • Help manage your debts

  • Reduce your monthly payments

  • Help you to become debt free

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Debt Management Plan Scotland

What is a Debt Management Plan?

Debt Advisory Services Scotland Limited offer a Debt Management Plan Scotland to people living in Scotland.

A Debt Management Plan (DMP) is an informal agreement designed to allow people who are struggling to meet their monthly debt repayments the opportunity to deal with their debts by making a single more affordable monthly payment via a debt management programme.

The debt management programme is run by a debt management company who collect the monthly payment from the debtor and pass the payments each month to their creditors until the debts are cleared.

The Debt Management Company negotiates with the creditors to freeze or reduce interest and charges being made to the accounts.

Unlike a Trust Deed or Debt Arrangement Scheme, no public register exists to record the details of those people participating in a Debt Management Plan.

Entering a DMP will result in you making lower monthly payments to your creditors. Making lower payments or missing your monthly contractual amount will result in defaults being recorded on your individual credit report. These defaults will remain on your credit report for six years.

For all Scottish debt solutions, stopping payments to your creditors may place you into further arrears and it is likely that your ability to get credit will be affected. For debt management plans we cannot guarantee a reduction in interest or charges and repaying your debt over a longer period can increase the total amount to be repaid.

Should your creditors refuse to accept the Debt Management Plan Scotland proposal there are other alternative solutions available.

A DMP may be appropriate if you have a temporary financial problem or if you can’t or don’t want to re-mortgage.

Only unsecured debts such as: personal loans, credit cards, store cards, overdrafts and catalogues can be included in you Debt Management Plan.

As secured loans and certain bills cannot be included in a Debt Management Plan, you will therefore need to ensure that your payments are maintained on the following priority debts and bills such as: mortgages, secured loans, council tax, hire purchase, utilities, TV licence, student loans and court fines.

debt resolution forum logoDebt Advisory Services (Scotland) Limited are members of the trade body, the Debt Resolution Forum.

Members of the Debt Resolution Forum are committed to giving quality advice by identifying the best solution for their clients after considering both their financial and personal circumstances.

Find Out Here if a Debt Management Plan is the best solution for you.

How a Debt Management Plan Works

We will assess your financial position to prove to your creditors that you cannot meet all of your contracted payments and to ensure that a debt management plan is the best solution for you. We will then agree a new payment with your creditors based on your affordability. Payments received from you are passed to your creditors within 5 days.

Our Fees

Despite the extensive work involved, we do not charge any up-front fees or higher monthly management fees during the first 6months for setting up your Debt Management Plan. The costs for arranging and managing your plan are spread over the duration of your arrangement. This means that your creditors will receive higher repayments from the first month of your plan.

Alternative to a Debt Management Plan

The Debt Arrangement Plan, which is a formal debt repayment plan, could be considered as an alternative to a debt management plan for those people who live in Scotland. Both plans have advantages and disadvantages.

Advantages and Disadvantages of a Debt Management Plan

Like other debt solutions, a Debt Management Plan has its own benefits and disadvantages, some are listed below.

Debt Management Plan Example

Mr and Mrs M of Glasgow could no longer afford the monthly payments of £818 to their creditors. They had taken out loans and credit cards to help with their living expenses and finding it difficult to afford the monthly repayments.

Frequently Asked Questions

This section includes the questions and answers to the most frequently asked questions about debt management plans. If you are unable to find the answer you are looking for, please contact us, we will be happy to help.

Terms & Conditions

Our aim at Debt Advisory Services (Scotland) Limited is to help you on your way to financial recovery. We aim to be transparent in all our dealings with you so that you understand every aspect of your Debt Management Plan. The Terms and Conditions of Business therefore explain our obligations to you and your commitment to us, so please take time to read them carefully.

Cancelling Your Agreement

You have the right to cancel your arrangement with us at any time. If you cancel your arrangement with us within 14 days of agreeing to our Terms of Business, we will refund all payments received from you (including any management fees) that have not been passed to your creditors.

How A Debt Management Plan Works

Following the completion of your free initial review, the process we will follow is noted below:

We will complete a further review of your financial position to confirm that a Debt Management Plan is the best debt solution to suit your personal needs.

Subject to us being able to assist you with our Debt Management Scotland Plan by reducing your monthly outgoings, we will provide you with a welcome pack, which contains documentation explaining how the debt management programme works, our terms and conditions and the associated costs involved.

Once you receive your Debt Management Scotland pack, a personal accounts manager who will be assigned to your case will call to introduce themselves and to talk you through your documentation and answer any further questions you may have.

Once we receive your documentation, we will commence the process of obtaining creditor balances and begin negotiating with your creditors to accept your proposals.

We will distribute your agreed monthly payments to your creditors within five days of receiving your payment and will provide you with a monthly statement showing the payments that we have made to your creditors.

Unless you experience a change in circumstances or you request a review of your plan, we will, on an annual basis, carry out a full financial review of your circumstances and provide you with a written report on the progress of your plan including written details of any recommendations that we make. There is no additional charge for this service.

You will be assigned the services of a personal account manager and you will be able to contact us at any time for advice and help with any queries you may have regarding your Debt Management Plan.

Your Next Step To becoming debt free:

Try Our Debt Solution Finder

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

Benefits and Disadvantages of a Debt Management Plan

Like other debt solutions, a Debt Management Plan has its own benefits and disadvantages, some are listed below:

Benefits:

  • You will only have to pay the agreed monthly payment to the Debt Management Company who will then distribute it each month to your creditors
  • You will have very little dealings with your creditors as all correspondence is handled by the Debt Management Company.
  • The Debt Management Company will provide you with regular financial statements showing where your payments are made.

Disadvantages:

  • Debt Management Plans are not legally binding and creditors can continue to add interest and pursue you through the courts.
  • Creditors are not obliged to accept the terms of the repayment programme. If they don’t, it could take you longer to repay your creditors in full due to the possibility of additional fees and charges. Debt Advisory Services (Scotland) Limited is an experienced Debt Management Company with a successful track record of negotiating frozen or reduced interest rates with Creditors
  • Entering a repayment programme will affect your credit rating and you may experience difficulty obtaining credit in the short and medium term.
  • Delayed or missed payments will cause you to go further into arrears with your creditors and may lead to your debts increasing and creditors taking further action to recover the sums owed to them.
  • Entering a debt management plan with a fee charging company will result in fees being charged.

Your Next Step To becoming debt free:

Try Our Debt Solution Finder

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

Our Fees

What do Our Services Cost?

No upfront fees!

Despite the fact that a significant amount of time and effort must be spent in setting up your plan, Debt Advisory Services (Scotland), unlike many other Debt Management Plan providers, we do not charge any up-front fees or 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.

What does our monthly management fee cover?

  • Your plans initial administration and set up.
  • Establishing and agreeing your monthly budget with you.
  • Liaising and negotiating with your creditors and preparing and presenting your proposed plan to them.
  • Keeping you updated with our progress.
  • Commence payments to creditors from the first month of the plan.
  • Deal with any letters, emails or phone calls you may receive from your creditors.

The ongoing management of your plan:

  • Distribution of your monthly payments to your creditors.
  • Provides you with a monthly statement of payments made to your creditors.
  • Provides you with the services of a dedicated account manager to assist you with any general questions you may have.
  • Ongoing support with any letters or calls you may receive from your creditors.
  • Conducting regular reviews with you to ensure that the plan continues to meet with your requirements.

To ensure that all 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, is determined by the number of creditors included in your plan.

Our monthly management fee has two elements:

(1) Each plan carries a Base Monthly Management Fee of £23.50
(2) 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.

If your monthly disposable income (contribution level) is £150 or less, irrespective of the number of creditors that you have, your monthly management fee will be no higher than our monthly minimum charge of £32.50.

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.

Your Next Step To becoming debt free:

Try Our Debt Solution Finder

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

Debt Management Plan FAQ's

How much will I need to pay into a Debt Management Plan?

Payments are based on individual circumstance. We will review your income and expenditure with you to work out an affordable payment amount. This will take in account essential monthly costs such as food, mortgage and utility bills.

How long does a Debt Management Plan last?

A Debt Management Plan lasts for as long as it takes you to pay back the debt owed. Although we do ask your creditors to freeze any interest on your debt, they are not obliged to do. If your creditors refuse to freeze interest, paying the same debt at lower repayment levels over a longer period will increase the total amount to be paid. It is also important to note that as your Debt Management payments will be lower than what your creditors originally required on a monthly basis, it will take you longer to repay them.

How do I know my debts are being paid?

We distribute your monthly payment to your creditors within five days of receiving your payment from you. We will provide a monthly statement to you showing the payments made to your creditors.

Do my creditors need to accept my proposed Debt Management Plan?

Although creditors and lenders do not have to accept any Debt Management proposals put to them, most are willing to if we can show that the offer is reasonable and that you are seen to be committed to repaying your debts through the DMP proposed.

There is no guarantee that your creditors will suspend any existing or threatened proceedings and they may continue to add additional costs to your debt whilst saying that, most creditors are willing to discuss the possibility of freezing the interest and charges on your debts.

Is this a loan?

A Debt Management Plan is not a loan; it is a debt solution that will allow you to repay your debt at a monthly rate you can afford.  We are not able to provide you with a loan.

Will you be dealing with all my creditors?

Only unsecured debts can be included in a Debt Management Plan, secured and priority debts need to be dealt by you.

What happens if my circumstances change?

It is important that you contact immediately if your circumstances change so that we can review your position and either adjust your monthly payments or identify an alternative debt solution that is more suitable to your circumstances.

Does it make a difference if I am a homeowner or tenant?

No. It makes no difference whether you are a homeowner or tenant.

Will I receive Default Notices from my creditors?

As Creditors send out Default Notices to protect their own legal position, it is likely that you will receive default notices from them.

Can I keep one of my credit cards for emergencies and not include it into my plan?

No, it’s important that when you enter a debt solution, you refrain from taking out further credit and that all unsecured debts are included in your plan.

Will my home be at risk?

Entering a Debt Management Plan does not put your home at risk, but you must ensure that your priority debts are maintained to avoid your home being at risk.

Where is my money held until it is distributed to my creditors?

All monies received by us for distribution to creditors are held in a separate, non- interest bearing client account with our bank

Should I continue to make payments to my creditors?

If possible, you should continue to make payments to your creditors until your debt management plan has been set up.

Your Next Step To becoming debt free:

Try Our Debt Solution Finder

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

Debt Management Plan (DMP) Example

Mr and Mrs M of Glasgow could no longer afford the monthly payments of £818 to their creditors.

They had taken out loans and credit cards to help with their living expenses and finding it difficult to afford the monthly repayments.

Monthly payments to creditors prior to taking out Their Debt Management Plan

Total Combined Value of Debts£29,375
Monthly payment to credit card 1£115
Monthly payment to credit card 2£137
Monthly payment to credit card 3£193
Monthly payment to credit card 4£45
Monthly Payment to unsecured loan£328
Total Monthly Payments to Creditors£818

Monthly Payment before DMP – £818
Monthly Payment in DMP – £325
Payment Breakdown over the duration of the DMP

Total Debt£29,375
Disposable Income£325
Monthly Base Management Fee£23.50
Monthly Creditor Administration Fee (5x £4.50)£22.50
Distribution to creditors£279
Estimated Term
(105 months @ £325)
(1 month @ £91)
105.28 Months
(8.7 years)
Assuming all interest and charges are frozen
Estimated Administration costs£4,842
Estimated Repaid£34,217Assuming all interest and charges are frozen
Terms and Conditions of Business (DMP)

Terms and Conditions of Business (DMP)

Our aim at Debt Advisory Services (Scotland) Limited is to help you on your way to financial recovery. We aim to be transparent in all our dealings with you so that you understand every aspect of your Debt Management Plan. The Terms and Conditions of Business therefore explain our obligations to you and your commitment to us, so please take time to read them carefully.

Definition of terms

Agreement means the agreement between You and Us made in these Terms and Conditions of Business.

Cleared Funds means (i) any postal orders or bankers drafts made payable to Us which WE have received from You (ii) Any monies which We have received into our Client Account from You by electronic transfer (such as by standing order, direct debit or credit transfer) and which have not been returned unpaid within four working days, and/or (iii) any cheques which We have received from You which have not been returned unpaid within seven working days.

Client Account means the account where any monies on behalf of our clients are deposited and which is not used for the purpose of our own business.

Cooling Off Period As you have a cooling off period of 14 days from the ate you sign the your documents, should you change your mind within this period and wish to cancel your agreement, on receipt of your cancelation notification, any payments received from you, which have not been sent to your creditors will be refunded to you within five working days.

Creditors means all of the people or businesses You have told us You owe money to and who are included in your Debt Management Plan. Unsecured debts, such as credit cards, personal bank loans, store cards, overdrafts and catalogues can be included. Debts that are excluded include all secured debts, court fines and child support payments.

Debt Management Plan” means the plan of Monthly Contributions by which You repay your creditors through Us and pay for our services, prepared by us based on the information provided by You, as revised periodically.

Fees’’ means our monthly management fee (we do not charge any upfront arrangement fees to start your plan) Our monthly management fee has two elements: (1) Each plan includes a base monthly management fee of £23.50 and (2) a creditor administration fee of £4.50 per creditor.

Our monthly management fee, which commences from the first month of your plan, is subject to a minimum fee of £32.50 and a maximum fee of £90.00.This fee is included in your agreed monthly payment.

If your monthly disposable income (contribution level) is £150 or less, irrespective of the number of creditors that you have, your monthly management fee will be no higher than our monthly minimum charge of £32.50.

Monthly Contribution means the total amount which is paid every month by You to Us throughout the Debt Management Plan. Apart from your first Monthly Contribution Payment which is the Initial Fee, this is made up of the Monthly Repayment to be made to your Creditors, and our Monthly Fee and any other payments as instructed or agreed with You.

Priority Debts’’ You must continue to pay your priority debts, which include: your mortgage, rent, council tax, hire purchase agreement, child support. Failing to maintain these payments could result in your creditors taking legal action against you to recoup the monies owed to them.

Regulation’’ Debt Advisory Services (Scotland) Limited is authorized by the Financial Conduct Authority to carry on the business of debt counselling, debt adjusting and debt administration.

Services means the services We agree to provide You with, under this agreement as debt advisors and debt managers.

Term means the period running from the start of this Agreement as defined in Section 1.2 until we stop providing You with Services. An estimate of how long the Term will last is set in your Debt Management Plan as issued by Us in accordance with clause 2.1.

Terms and Conditions of Business means these terms of business.

Us and We means The Debt Advisory Service (Scotland), whose head office is at 110A Maxwell Avenue Bearsden Glasgow or anyone whom we transfer our obligations and rights under this agreement.

You” means you, the person entering into this agreement named in the Debt Management Plan.

1         Appointment and Term

1.1     You appoint Us and We agree to act on your behalf and provide the services.

1.2     This agreement will start when You confirm your acceptance of these Terms and Conditions of Business by returning the completed Letter of Authority and the day when we receive the initial Fee from You in Cleared Funds.

1.3     This Agreement will continue for the Term, unless ended earlier by you or by us as set out in section 5.

1.4     You have a right to cancel this agreement at any time during the first 14 days of the Term. “Days” here includes Saturdays, Sundays and public holidays. You can do this by writing to us at the above address. We will then refund to you any Monies already paid to us that are Cleared Funds and that have not been passed to your creditors.

2        Our obligations to You

2.1     Based upon information provided by You to Us, We will review your income, outgoings and living expenses and prepare and send You a Debt Management Plan based on the debts to be included in your plan. This will indicate a Monthly Contribution which we believe You can afford and an estimate of how long it will take You to repay your Creditors.

2.2     Once the Agreement starts, We will notify your Creditors of our involvement and will attempt to agree with them revised payment terms on your behalf. We will attempt to persuade your creditors to accept reduced monthly repayments from You, not to charge interest and to either suspend or withdraw any recovery, or similar proceedings, which they may already have taken against You or may have threatened to bring against You. Whilst We will attempt to agree revised payment terms with your Creditors, We cannot stop your Creditors from continuing to charge You interest and other charges, or from continuing any current, or bringing any future, recovery proceedings against You if they want to do this. If Your Creditors continue to charge You interest or other charges during the Term of your Debt Management Plan, it may be necessary for you to make additional payments at the end of your Debt Management Plan to clear your debt to your Creditors. If your creditors continue to charge you interest or other charges which are unacceptable to you, We will endeavor to identify an alternative solution.

2.3     If your circumstances change and you are unable to meet the payments set out in the Debt Management Plan, We will attempt to re-negotiate with your Creditors and arrange with you a revised Debt Management Plan. We will in any event periodically review your situation, normally every twelve months or earlier if your Creditors insist, and We will prepare and issue a revised Debt Management Plan with You and your Creditors if this is appropriate.

2.4      We shall keep you informed of all material communications between your Creditors and Us, and We shall deal with all communications from your Creditors to Us (or to You and provided by You to Us) appropriately.

2.5     We cannot provide credit or lend you money.

2.6     We cannot provide Services in relation to Priority Debts which payments are required to be maintained by you. Priority debts include Mortgages, Secured loans, Council TAX, Rent and Utility bills. Failure to maintain Priority debts could result in serious consequences such as repossession of Your property, wage arrestment and other legal actions being taken.

3        Your Obligation to Us

3.1     You must provide Us with full, accurate and honest details on the form We provide to You of your net income, outgoings, creditors and dependants  You must also provide Us with details of any outstanding judgements against You or any actual or threatened court proceedings. You must where possible send to Us copies or originals of documents to confirm these details.

3.2     You must make the agreed Monthly Contribution Payments to Us in accordance with the Debt Management Plan. These contributions will pay for the Initial Fee, the Monthly Fee and Monthly Repayments to your creditors.

3.3     You must allow Us to negotiate on your behalf with your Creditors.

3.4     You must send us originals or copies of all correspondence You receive from Your Creditors so that We can deal with them on your behalf. Your correspondence will be scanned and stored by us as an electronic image or kept on file. If originals are provided we can only return them to You if You request this prior to posting.

3.5     During the term You must not make any payments directly to Your Creditors unless You have notified us in advance that You propose to do so and We have agreed that such payment can be made.

3.6     You must tell Us if your circumstances change so that you are or may become unable to maintain the level of Monthly Contribution Payments or if there has been as improvement in your circumstances so that You are able to increase your level of Monthly Contribution Payments. We will require two weeks’ notice from You to make any amendments to any direct debit or standing order arrangements You make for payment of the Monthly Contribution payment to Us.

3.7     During the Term You must incur no further debts, whether on credit or otherwise, other than those relating to your normal living expenses.

4        Your Contributions

4.1     All contribution Payments that We receive from You in Cleared Funds will be paid directly into our client Account. The only payments which We will make out of our Client Account are: (i) payment of our Fees; and (ii) payment of the Monthly Repayments to you Creditors in accordance with the Contribution.

4.2     We will distribute the Monthly Repayments amongst your Creditors in accordance with the Debt Management Plan normally within five working days of receipt of Monthly Contribution from You in Cleared Funds. If there is a delay in any payment to Creditors which is not beyond our control, We shall take appropriate action to put You in the position You would have been in if the payment had been made within five working days in Cleared Funds and shall make good any additional interest which has accrued and any default charges that have been applied to the account as a result as a result of the delay.

4.3     You should make payments into the plan on time each month. Delayed or missed payments will cause you to go further into arrears with your creditors and could lead to your debt increasing and creditors taking action to recover the monies owed to them.

4.4     You must ensure that you continue to meet your other priority commitments which include mortgage payments, rent and utility payments together with any other commitments which are not included in your debt management plan.

4.5     Entering into a Debt Management plan may have an adverse effect on your credit rating. Credit reference agencies retain records including default notices for a period of 6 years.

5        Termination of this Agreement

5.1     You have the right to cancel this Agreement under section 1.4

5.2     You have the right to cancel your arrangement with us at any time. If You cancel your arrangement with us within 14 days of agreeing to our Terms of Business, we will refund all payments received from you (including any management fees) that have not been passed to your creditors.

If you cancel at any time after 14 days, no further charges will apply and we will refund any monies that have not been distributed to creditors at the time your notice of cancellation is received. Monies due to be returned to you will be issued within five working days of receipt of your cancellation notice.

As we are required to inform creditors of your decision, creditors are likely to end any payment arrangements previously agreed if you are cancelling before your debts are repaid. On cancelling your debt management plan, you will then be responsible for dealing with all of your creditors direct.

5.3     We may end this agreement at any time by giving you two weeks prior written notice if any of the following happens: (i) You fail to make two successive monthly contribution payments; or (ii) You are otherwise in serious breach of this Agreement or (iii) You become bankrupt, file a bankruptcy petition, or make an application for a Protected Trust Deed.

5.4     When this agreement ends: (i) our duties and obligations under this Agreement will come to an end; (ii) Your liability to Your Creditors will continue to the extent that any amounts You owe to your Creditors remain outstanding over and above the repayments made to them under the Debt Management Plan; and (iii) You may within 30 days of the end of this agreement request Us to send You copies of all paperwork received from You or your Creditors that has been retained by Us as a retained image of on file.

5.5      Following the signing of your contract, you may terminate your agreement, with a full refund of any fees paid to us by you if:

• We are unable to provide the debt solution with you or fail to carry out the actions agreed
• The total fee differs significantly from the estimate given
• We have offered more than we can deliver
• We have failed to provide services with reasonable care and skills
• Where there has been a total failure of consideration

5.6     Terminating this agreement before completion without confirming repayment arrangements with your creditors may result in charges being applied by your creditors and actions taken by them to obtain repayment of monies owed by you.

5.7      If your financial circumstances change during the term of this Agreement we may refer you to our insolvency practitioners or financial services advisors to identify a financial solution which better meets your needs at that time.

6        Personal Information

6.1     We agree to keep confidential all information received from or about You. We will not pass this information to anyone else without your permission, except in line with our Data Protection Statement contained in section 7 or to your Creditors as is necessary in order for Us to negotiate repayments with such Creditors.

6.2     If you have opted to receive information from us by text messaging or email You are responsible for the security of your mobile telephone or personal computer- and must take all reasonable precautions to prevent anyone else from accessing your information, including using all security features available to you- and for informing us immediately if your mobile or personal computer is lost or stolen, your number or email address changes or if you suspect someone may have access to the information We send You.

7        Data Protection Statement

7.1     Please read this statement careful as it explains what personal information We collect about You and how We use this information.

7.2     We collect personal information about You both directly from You when You apply for our services and from your Creditors as authorised by your Authority to Act Form. We may also collect further information as a result of managing your Debt Management Plan.

7.3     We will use your personal information to provide our services to You, and in particular to: (i) prepare and issue to You your Debt Management Plan, (ii) negotiate with your Creditors on your behalf; and (iii) keep You informed about your Debt Management Plan and our Services.

7.4     Subject to section 7.5 we may also use your personal information to contact You with details of other products and services which We think maybe of interest to You.

7.5     You may inform Us now if You do not want Us to use or disclose your personal information as set out in section 7.4 or if you wish to amend the way we communicate with you.

7.6     Other than as set out above We will only disclose your personal information to the extent required by law, court order, our regulators (The Debt Resolution Forum) or as requested by other government or law enforcement authority, or to any company or other entity to whom we either transfer or subcontract any or all of our obligations to You under this agreement.

7.7     You may contact us at any time to the Data Protection Officer at our address given above for further information, or if you want to request a copy of the personal information which We hold about You or to ask Us to amend any inaccurate information held by Us.

7.8     Please note that we may record and monitor your telephone calls to Us to help improve our service.

8        Other Terms

8.1     We may transfer our rights and obligations under this Agreement by giving You written notices of such transfer.

8.2     This agreement sets out the entire agreement and understanding between You and Us and supersedes all prior agreements, understandings or arrangements (whether written or oral) in relation to the provision of Services.

8.3     You acknowledge that You have entered into this Agreement in reliance only on the representations, warranties and promises specifically contained or incorporated in this Agreement and, except as expressly set out in the Agreement, We shall have no liability in respect of any other representation, warranty or promise made prior to the start of this Agreement unless it was made fraudulently.

8.4     We shall not be deemed in breach of this Agreement or otherwise liable to You if We are prevented or hindered from performing our obligations under this Agreement by reason of any event beyond our reasonable control.

Cancelling Your Agreement

Cancelling Your Agreement

You have the right to cancel your arrangement with us at any time. If you cancel your arrangement with us within 14 days of agreeing to our Terms of Business, we will refund all payments received from you (including any management fees) that have not been passed to your creditors.

 If you cancel at any time after 14 days, no further charges will apply and we will refund any monies that have not been distributed to creditors at the time your notice of cancellation is received.

 As we are required to inform creditors of your decision, creditors are likely to end any payment arrangements previously agreed if you are cancelling before your debts are repaid. On cancelling your Debt Management Plan, you will then be responsible for dealing with all of your creditors direct.

Your Next Step To becoming debt free:

Try Our Debt Solution Finder

Careful consideration should be taken before choosing any debt solution.

Debt Advisory Services (Scotland) Limited only recommends appropriate debt solutions after we have conducted a full review of your personal financial circumstances.

Our Financial Review Service is completely free and there is no commitment for you to action any of the solutions that we recommend to help you deal with your financial problems.

How can a Debt Management Plan Scotland help you?

Our debt management programme will help you manage all your current debt by consolidating your monthly payments into one monthly affordable payment whilst allowing you to maintain an acceptable standard of living.

Unlike most debt management companies, Debt Advisory Services (Scotland) does not charge an arrangement fee for setting up your Debt Management Plan

Debt Management Scotland – Additional Information

How is your monthly payment calculated?

Our objective is to ensure that your monthly payment towards your Debt Management Scotland plan is set at a level you can comfortably afford, after all your essential living costs and any priority payments have been taken care of.

In calculating your monthly payment, we calculate your total net income from all sources (earnings, benefits and pensions) and your total monthly expenditure (mortgage / rent, utility bills, food, clothing, travel and other essential bills.

Your monthly payment is calculated by subtracting your total monthly expenditure from We then subtract your total income.

Your financial circumstances are reviewed at least once a year to ensure that your payment remains realistic for both you and your creditors.

Debt Management Plan Scotland and Your Credit File

Debt Management Plans are not recorded on your credit file although a marker can be made against the debts included in your debt management programme. If any individual markers are recorded, they will remain on your file until the debt is cleared

Getting a mortgage or re-mortgage with a debt management plan

Getting a mortgage at a low rate of interest will be difficult as most lenders are not happy lending to individuals who are repaying your debts through a debt management plan. Although there are specialist lenders who are willing to lend to individuals who are operating a debt management programme their interest rates will be high

Having a debt management plan together with a low credit score you will find it hard to get a good rate when re-mortgaging.

To find out more about becoming debt free you can:

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    Forward your details to us by completing our contact form and we will call you back.

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    Ring us on 0141 956 4088 or on 0800 011 2322 (Free from Landlines) to discuss your situation with one of our fully trained advisors.

If you need confidential advice or help to quickly find the best solution tailored to your personal circumstances call us now on

0800 011 2322 or
0141 956 4088

DEBT RESOLUTION FORUM

debt resolution forum member

DEBT MANAGEMENT
PROTOCOL APPROVED

debt management protocol approved

The first Scottish Debt Management company to be Protocol approved. Ensuring you of an excellent standard of customer service.

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