Advantages and Disadvantages of the Minimal Asset Process in Sequestration

If you are struggling to repay debt because you’re on a low income and have few assets to sell, the Minimal Asset Process (MAP) may provide a way out of this worrying situation.

How could sequestration affect my job?

In many cases sequestration doesn’t affect a person’s job, and you may be able to carry on working with no adverse effects on your current or future employment situation.

Sequestration explained for Scots with personal debts

Sequestration is the Scottish term for bankruptcy, and is often seen as a last resort by those in personal debt.

I recently filed for sequestration, how am I supposed to manage without a bank account?

Despite optimistic reports that the economic situation is improving, sequestration levels remain high in Scotland when compared with pre-recession statistics.

What happens to my pension in sequestration?

When you enter sequestration, your assets are placed in the control of a Trustee who will seek to realise as much money as possible from them in order to pay your creditors.

What is the impact of my wife or husband’s sequestration on me?

The nature of sequestration means that your husband or wife’s assets are placed under the control of a trustee.

Can I claim PPI compensation if I’m bankrupt or sequestrated?

Following the boom of mis-sold PPI pay-outs in recent years, this is a question that is cropping up more and more often.