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Debt Arrangement Scheme (Scotland) Amended Regulations 2013

Debt Arrangement Scheme (Scotland) Amended Regulations 2013

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Debt Arrangement Scheme (Scotland) Amended

Regulations 2013

Introduction

Items for discussion:

• Revised DAS legislation implemented 2 July 2013

• Summary of DAS Review Board

• Summary of DASH user group discussion

• IT development update

Key regulation amendments

• Freeze interest, fees and charges earlier at the application stage.

• Clarify when the DAS Administrator can correct errors

• Improve access for joint applications

• Composition

• Review process (regulation 47)

• More flexible payment break duration

DAS Review Board

Representation on board:

• AiB staff • Executive staff from Money Advice and Citizens

Advice Scotland• HMRC• BBA (British Banking Association)• IPA/ICAS• ABCUL (Credit Unions)

DAS Review Board

Main points of discussion in last few meetings:

• Creditor Engagement Strategy of DAS team• New Legislation, before and after• Best practices, job shadowing• Feedback from DAS team visits to stakeholders

invited discussion on secured debt and diligence• Selling on of debts• Introduction of the DAS newsletter• Minutes published on DAS website

DASH User group

Representation on board included AiB staff, Major Creditors, Money Advisors & Payments Distributors

• First meeting held March 2013.

• Meetings specifically deal with grass root system issues

• Fed into DAS system requirements paper

• Third meeting considered the requirements paper and suggested amendments.

IT Development Update

• Initial upgrades to accommodate 2013 regulations.

• Paper approved by AiB Board in consultation with PD Panel members, DAS Review Board and DASH user group.

• Currently with AiB IT developers for investigation.

IT Development Update

Proposed upgrades include:

• Return variation facility• Creditor letters• Data download• Missed payment notification• Auto-save• Underpayments• Variation screen update• Revocation screen update• Spellcheck• Case lock

Growth of DAS

• 1170 DPPs approved between July – September 2013

(5.4% increase from Q2, 2012/13)

• 400% increase in DAS DPPs since 2009

• 15% reduction in revocation applications from

April-June to July– September 2013 (547)

• 1% reduction in variation applications from April-June to July-September 2013 (605)

• DAS repaid £7.2 million this quarter

(£1.6 million more than same quarter last year)

AIB DAS Administrator Team

Contact details

Telephone:

0300 200 2770

E-mail:

[email protected]

Fax:

0300 200 2920

Mail:

DAS Team

1 Pennyburn Road

Kilwinning

Ayrshire

KA13 6SA

Kelly Quigley, Head of DAS and Insolvency Registrations0300 200 2853, [email protected]

1 Pennyburn Road, Kilwinning, Ayrshire, KA13 6SAT 0300 200 2600 F 0300 200 2601 W www.aib.gov.uk

THANK YOU