Notes for Guidance - Creditors - Debt Arrangement Scheme

The DAS Administrator or continuing money advisor, with consent of the client, can make an offer of composition to each creditor in the DPP after 12 years from the approval of the DPP and where 70% of the total debt due in DPP has been paid.

A creditor who accepts the offer agrees that liability of the client to repay that debt is discharged.

A creditor who does not respond to the offer within 21 days is deemed to have accepted the offer.

If all creditors accept or are deemed to have accepted, the offer the DAS Administrator will notify you, in writing, of the completion of the DPP.

The DAS Administrator will maintain a record of creditor acceptances.