Completion of a DPP
The DPP reaches completion when the client has made all payments as agreed or has made a lump sum payment equal to the sum of all outstanding payments. Completion of the DPP is at the time specified when the DPP was first approved, or if it has been varied, at the most recent variation. If the client has missed any payments or has made under-payments, the length of the DPP is extended accordingly.
The debt in the DPP will have been paid in full, minus the fees paid to the DAS administrator or payments distributor.
If the creditors agree in writing to the completion before the scheduled end of the programme, the DPP can be treated as if it has been completed - eg, if all the creditors agree to write-off the outstanding debt. In these circumstances, the debt adviser must apply for a variation to adjust the balances to allow the DPP to be completed. Where the debt adviser or the client wish to negotiate payment of a reduced lump sum amount in exchange for early settlement, the adviser must apply for a ‘partial settlement’ variation on eDEN. The adviser should follow the guidance set out for partial settlement variations on the AiB website.1Reg 46 DAS(S) Regs The payments distributor notifies the completion to:
•the DAS administrator;
•any continuing debt adviser;
•the client;
•each creditor taking part in the programme.
The DAS administrator informs the client’s employer that the DPP has completed, if payments were being made directly from the client’s pay.2Reg 46 DAS(S) Regs If any party has any enquiries about the completion of the DPP, or if a creditor does not believe the debt has been fully paid, they should contact the DAS administrator.