What does a DAS approved money adviser do?

A DAS approved money advisor will:

  • provide money advice to the debtor
  • liaise with creditors on behalf of the debtor
  • assist a debtor with, and advise on an application for approval, variation or revocation of a DPP
  • prepare and submit on behalf of a debtor an application for approval of a DPP
  • provide information to the DAS Administrator when requested, and
  • act as a lay representative in court

In addition to the above a DAS approved money adviser can administer a DPP through DAS, this is a continuing money adviser.  The continuing money adviser must also invite the debtor to provide a statement of their current financial circumstances every 12 months of the DPP and notify the DAS Administrator if the debtor has changed their address.

DAS approved money advisers are spilt into two groups:

  • DAS approved money advisers who work in the public sector, and
  • DAS approved money advisers who work in the private sector

A DAS approved money adviser must not give advice to a debtor with whom they have an association, ie husband and wife, brother/sister.

 

 
 

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