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Jun 04, 2020

Debt Arrangement Scheme

If you have spare income after your essential household expenditure is met, this would be offered to your creditors on a pro-rata basis until the debts are paid in full. This may mean paying debts over a longer term than was originally agreed (usually up to a maximum of 10 years).

Once your DPP becomes approved you are protected from any further creditor recovery action, they cannot add any further interest or charges to your accounts and any assets you have are completely protected, particularly your home.

Advantages of the debt arrangement scheme:

Disadvantages of the debt arrangement scheme:

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