McCoo Money

Full Debt Repayment
A DAS allows you to repay your debts over a reasonable period without pressure from creditors to repay more quickly.
Asset Protection
Unlike some other debt solutions, a DAS typically allows you to retain your assets, such as your home and car, as long as you maintain your agreed payments.
Interest and Charges Frozen
Once your DAS is approved, all interest, fees, and charges on your debts are frozen, preventing them from increasing further.
Legal Protection
Creditors included in the DAS cannot take legal action against you to recover their debts, offering peace of mind.
Flexible Payments
Payments are based on what you can afford, ensuring the plan is tailored to your financial situation.

Extended Repayment Period
Since you're repaying the total debt amount, the repayment term can be lengthy, sometimes up to ten years, depending on your debt level and payment capacity.
Credit Rating Impact
Entering into a DAS will affect your credit rating, making it challenging to obtain credit during and after the arrangement.
Strict Budgeting
You'll need to adhere to a strict budget throughout the DAS to ensure all payments are made as agreed.
Commitment Required
A DAS is a formal, legally binding agreement; failing to maintain payments can lead to the arrangement being revoked, and creditors may resume collection actions.

Before deciding on a DAS, it's essential to consult with a qualified debt advisor to assess whether this solution aligns with your financial circumstances and long-term goals.

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(Here are some hypothetical examples of how a trust deed could work)

New Payment

£107/M

Jenny W

£9000 in Debt

Credit cards
Loans
Council Tax

Old payment pm

New Payment

£147/M

John H

£16000 in Debt

Finance
Loans
Overdrafts

Old payment pm

New Payment

£123/M

Jenny Wilson

£13000 in Debt

HMRC
Payday Loans
Credit Cards

Old payment pm

May not be suitable in all circumstances. Fees may apply, Entering into an TrustDeed will affect your credit rating, Any potential disadvantages of entering into an TrustDeed will be explained on application. A debt write off amount of between 25% and 75% is realistic, however, the debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors.

Customers can get free debt counselling, debt adjusting and providing of credit information services from the MoneyHelper – an organisation set up by the Government to offer free and impartial advice to those in debt. For more information from MoneyHelper click here www.moneyhelper.org.uk You can find Government guidance on dealing with your creditors here.