The Sheridan's, from Glasgow have a mortgaged property in which they have lived for a number of years. The biggest concern for the Sheridan family was losing their home or being forced to release part of their equity to pay off the debt.
“Our main concern was that our home could be put in danger and therefore we did not want to pursue the other ways of writing off debt in Scotland. We now know that by the time our daughter grows older, there will always be a secure family home for her."
Liz and Matthew McMahon from Edinburgh got married and quickly accrued thousands of pounds of debts. They had looked originally at separate trust deeds however; they had too much disposable income to qualify for a trust deed.
“Having moved in together and not having much experience in managing our finances, we quickly got overwhelmed by all the late fees and admin charges that were piling up on our overdrafts and credit cards.
Thanks to DAS Scotland, we are repaying our debts through a joint debt arrangement scheme, safe in the knowledge that we have a fixed plan of recovery. We both love the flexibility that should our circumstances change, we can amend our DPP to match our new situation!”
Mr Gold of Kilmarnock approached DAS Scotland as he is a director of an established company and he did not want to allow his personal finances to jeopardise his career.
“The appeal of repaying my debts through my DAS is that it is allows me to continue trading with my business AND keeps my personal finances confidential. The fantastic unexpected advantage of using a debt arrangement scheme is that I make one payment per month and the DAS administrator takes care of the rest, letting me get on with running my own business without any distractions.”
Mandy McGuire a dental nurse from Coatbridge was repaying her debts through a debt management plan with an English based company. Mandy felt that after two years of uncertainty over interest and charges and persistent contact from creditors that she needed a more formal solution to her debt burden.
"I spent a lot of time chasing up my personal financial manager at my previous debt management company and while they addressed my concerns and provided me with good customer service, I just felt a little uneasy at the way my debt level would never really go and some debts seem to go up. I can’t believe how much better the DAS has been and my only regret not switching sooner!"