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jojo93
Advanced Contributor

131 Posts

Posted - 09 June 2021 :  08:57:08  Show Profile  Reply with Quote
I am in a Das which is nearly coming to an end when my Das is completed there will still be a small amout remaining to my creditors does this get written off .could I still pay the remaining amount of I wanted too

Paul McDougall
Trust Deed Expert



114 Posts

Posted - 09 June 2021 :  09:52:25  Show Profile  Reply with Quote
Morning JOJO

The small amount owed to creditors will be written off. With a DAS, creditors receive between 78% to 90% of the debt repaid back. The majority of creditors wait until the DAS is concluded until they write off the outstanding sums due to them.

Once you are discharged, please contact the credit reference agencies to ensure your report reflects the position.

Paul

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DBHA21
Contributor

13 Posts

Posted - 09 June 2021 :  14:21:56  Show Profile  Reply with Quote
Hi Jojo,

As Paul says, upon completion of the DAS the outstanding balances will be zero and your credit file should be updated to reflect this.

In theory there's nothing to stop you from giving money to whomever you want after your DAS is complete, however the creditors wouldn't have an active account with a debit balance to reconcile your payment, so I'm not sure they would accept it.
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TDA (Debt Adviser)
Trust Deed Expert



13754 Posts

Posted - 09 June 2021 :  16:51:19  Show Profile  Reply with Quote
Hi jojo93,

Why is it that you're considering paying an extra amount? Is it to do with your credit file in the future?

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jojo93
Advanced Contributor

131 Posts

Posted - 09 June 2021 :  17:56:23  Show Profile  Reply with Quote
So I could pay the balance outstanding my Das if I wanted too,would look better on my credit report
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DBHA21
Contributor

13 Posts

Posted - 10 June 2021 :  10:00:24  Show Profile  Reply with Quote
Hi Jojo - as Paul says above, once you've completed the DAS your credit report should be updated to show all of the accounts settled and a zero balance - making an additional payment to them shouldn't make a difference to your credit report's status
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jojo93
Advanced Contributor

131 Posts

Posted - 10 June 2021 :  13:27:51  Show Profile  Reply with Quote
So if I get letters asking me to pay I will just send it to my adviser is it common to have small balances left over in a Dad
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TDA (Debt Adviser)
Trust Deed Expert



13754 Posts

Posted - 11 June 2021 :  11:04:16  Show Profile  Reply with Quote
Hi jojo93,

People repay the full amount that they owe with DAS. However, not all of that money goes to their creditors. A percentage is used to cover fees associated with the process.

This means that at the end of a DAS creditors might document on their systems that a balance remains owing, but the individual using the DAS has no liability to repay the money that the creditor's system records as being owed.

I'd suggest that you contact your DAS adviser and get their thoughts on how you can work together to bring the process to a smooth end.

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jojo93
Advanced Contributor

131 Posts

Posted - 11 June 2021 :  15:44:31  Show Profile  Reply with Quote
Yes that what I thought but I got a statement from one of my creditors and they said all of the balance needs to be paid I live in Scotland and I don't think some companies knows what a Das is as they are based in England thanks tda
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Kevin Mapstone
Trust Deed Expert



3995 Posts

Posted - 14 June 2021 :  09:02:54  Show Profile  Reply with Quote
It may well be ignorance on the part of the creditor, jojo93. You should alert your money adviser and hopefully once they have made the regulations clear to this creditor then they will write this debt off as they should.

If they still refuse then you would probably need to make a formal complaint and take that as far as you need to go to force them to comply - it is the law after all so they cannot just ignore it.

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