Debt Arrangement Scheme. Is it right for you?


At Debt Arrangement Scheme you can set up a debt payment programme that will help you repay your debts at a rate that is affordable for you. We do not charge any fees to start of your DPPs.

 

Use DAS to start off a debt payment programme: 

Debt Arrangement Scheme allows you repay your debts by making one affordable monthly payment.

The payment is based on the amount of money you have left over once you have paid off all of your household bills rather than your creditors asking you for the amount. During a DPP your creditors are not allowed to increase your debts and should not contact you via telephone, email or face to face.

 

Things to think about the DPP: 

 Deciding to start a DPP is a big step and there are things you should consider before you apply. There are the following: 
  •  You must have enough income left over every month after your living costs and be able to pay off your debts over a valid period of time.
  •  If you are expecting to receive a lump sum of money in the next 12 months, i.e: house sale income or the money that your family has given to you, then you are   required to contact your debt advisor to arrange a review.
  •  The DPP will fail if you struggle to keep your payments up to date. Creditors will add interest and charges to the amounts that you owe and they will take legal action   against you if you cannot pay off your debts.
  •  If you are finding it hard to maintain your payments, don't hesitate to ask us for help. Your money advisor will then review and vary your payments potentially to your creditors.

 

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DPP is only right for you if you have money left over at the end of every month (after you have paid your household costs such as the food shopping, accommodation and utility bills) and you can clear off your debts within a reasonable amount of time.

Our professional advisors will work with you to put a budget together. Any money that is left over from this will be split between your debts.


You could make a single payment that is affordable to your DPP. The payment is shared out on a fair basis between the different creditors that you owe money to.

Your DPP has been set up and is getting managed by your money advisor. Once your payments have been taken out, it will then get passed onto your creditors by a payment distributor.

Free Debt Helpline are approved money advisors as well as a payments distributor. It means that, if you do set up your DPP with us, we will be doing all of this for all our customers.


You are only able to set up a DPP under the DAS scheme if you can repay off what you owe at a reasonable amount of time. If you cannot do that, you will be more suited to a form of insolvency such as sequestration.

Your DPP ends when you have made all the payments you agreed to make and the debts have been cleared, or if you clear the debts with a lump sum payment.


If your situation does change while you are on a DPP you could apply to vary the amount that you are paying. Your DPP money advisor will take into consideration to decide whether to approve it or not based on this change.

Your situation may dramatically change during your DPP, I.e: if you are out of your job or go on maternity leave. If this means your income has been reduced by 50% or more, you could also apply for a payment break while you get your situation sorted out.

We will start off your DPP free of charge. Some commercial debt management companies will charge you for this.

Once your DPP has been approved, your payment of 10% has been taken as fees to cover the running costs. The percentage is set in law and there are no other hidden charges.

2% has been paid to the Accountant in Bankruptcy (AiB) and 8% is being kept by your payments distributor.

If you have just started off your DPP with us, we will enter your details onto the DASH Portal (the system the AiB uses to process and monitor DPPs) after the 1st July 2015, we will be your payments distributor so we will keep the 8%.

If your DPP details has been entered onto the DASH Portal before the 1st July 2015, another company will be your payments distributor and they get to keep the 8%.