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Regreteverything
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9 Posts

Posted - 25 October 2021 :  10:49:08  Show Profile  Reply with Quote
ello, I am so pleased to say that my DAS has been approved and itís such a relief for me that I can start looking forward and paying this back. I have a few questions regarding this and I hope you can help. Does the DAS start when you make your first payment or from when it is approved? So it says I have to make my first payment by December 3, I really want to set up payment to start every 1st of the month to coincide with my pay. Now I could start this 1st of November but if the plan says I must make first payment by 3rd December- then I could start it 1st of December. This would be a great help as this could mean I could save a small emergency fund before I start making my first payment if that makes sense. My only worry is 1st December is a long while away for the creditors to receive their first payment and they might retract their decision that they approved and change their decision. Can they do this? I feel like they have all approved my DAS in such a short space of time- yet if I choose 1st December they might feel I am delaying first payment and they might change their decision on the DAS. I donít want to do anything to jeopardise my DAS plan as it has now been approved so Iím looking for some guidance whether once approved and they havenít receive first payment straight away- if they can change their mind. If I choose 1st December for first payment, it is still within 42 days as it states on the docs that 1st payment must be made by 3rd. Can someone help. Thank you so much.

TDA (Debt Adviser)
Trust Deed Expert



13851 Posts

Posted - 25 October 2021 :  14:36:30  Show Profile  Reply with Quote
Hi Regreteverything,

I'm glad to hear that your DAS has been approved.

If your DAS has been approved with a condition that you make the first payment by December 3rd, then I cannot see any issue if you make your first payment on December 1st.

As always, you should confirm the situation directly with your adviser as they will be much closer to the detail of your arrangement than we can be.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Kevin Mapstone
Trust Deed Expert



4029 Posts

Posted - 25 October 2021 :  15:14:37  Show Profile  Reply with Quote
The requirement is that you make your first payment within 42 days of approval. Your plan will not be revoked as long as you meet this requirement. Presumably this is the 3rd December date, so there should be no problem in making the payment on 1 December.

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