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Sequestration
Debt free in a normally 12 months
Property and assets at risk
Considered the last resort 
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Sequestration (Scottish bankruptcy)
What is sequestration?
Sequestration is the Scottish term for bankruptcy. Sequestration is one way of dealing with debts you cannot pay.
What is sequestration?
Sequestration is the Scottish term for bankruptcy. Sequestration is one way of dealing with debts you cannot pay.
Is sequestration the best option for me?
Anyone can be sequestrated. If you are struggling and cannot meet your debt repayments you should strongly consider sequestration.
Sequestration criteria
Your total debt is over £10,000
Owe money to more than 3 companies
You must be either living in or have lived in Scotland during the last year, and
You haven't been made bankrupt within the last 5 yearsSequestration - Pros (advantages) & Cons (disadvantages)
Pros (advantages)
Sequestration will remove the pressure and stress of debts
All of your debts will be written off.
Sequestration will remove the pressure and stress of debts
All of your debts will be written off.Cons (disadvantages)
You will lose control of your assets, which may entail your house, car and any household effect (if they are deemed to be of excessive value) being sold.
Your personal debt information will be reported in the local press and in the Edinburgh Gazette.
While you are sequestrated it will be unlawful for you to incur credit of more than £250 unless you tell the lender that you are an un-discharged bankrupt.
There are some occupations, which carry restrictions about being sequestrated. Check you terms and conditions
Your are prohibited from acting as a director of a company.
You need the permission of the court to take any part in the promotion, formation or management of a limited company.
You are required to inform all persons concerned in the sequestration if you are about to trade in any business under any other name.
You cannot included a Student Loan,
You will lose control of your assets, which may entail your house, car and any household effect (if they are deemed to be of excessive value) being sold.
Your personal debt information will be reported in the local press and in the Edinburgh Gazette.
While you are sequestrated it will be unlawful for you to incur credit of more than £250 unless you tell the lender that you are an un-discharged bankrupt.
There are some occupations, which carry restrictions about being sequestrated. Check you terms and conditions
Your are prohibited from acting as a director of a company.
You need the permission of the court to take any part in the promotion, formation or management of a limited company.
You are required to inform all persons concerned in the sequestration if you are about to trade in any business under any other name.
You cannot included a Student Loan, What are the alternatives to sequestration?
There are a few options that may be available, talk to one of our experts and they will discuss all of your options.
Trust Deeds
Debt Management
Consolidation Loans
Equity Release
Trust Deeds
Debt Management
Consolidation Loans
Equity ReleaseWhat happens to my credit rating?
You will be discharged from a sequestration after 1 year; however a note regarding your sequestration will remain on your credit file for 6 years.
How do I apply for a Trust Deed?
Call our debt help line on 0161 713 1883 and one of our debt experts will talk you through each step. We do all the work.
