Sequestration Articles

Sequestration

What is a bank arrestment in Scotland?

A bank arrestment is a legal process in Scotland where a creditor (a company you owe money to) can freeze your bank account in order to recover a debt you owe.

Sequestration

Can I lose my home if I am sequestrated in Scotland?

In sequestration (the term for bankruptcy in Scotland), whether you lose your home depends on whether it's an asset and if you have equity in it

Sequestration

Consequences of sequestration (bankruptcy) in Scotland?

Sequestration is often a last resort for people in serious debt, and one that is taken only after all other options have been exhausted.

Sequestration

Getting a mortgage after sequestration

Sequestration is a serious form of insolvency action, equivalent to bankruptcy in the UK, which can affect your chances of getting a mortgage.

Sequestration

Can I apply for my own sequestration?

When you’re struggling to repay unsecured debt and see no way out of a dire financial situation, personal bankruptcy can seem like the only option.

Sequestration

How does sequestration affect being a company director?

Sequestration is a personal insolvency solution akin to bankruptcy. Company directors in Scotland must adhere to specific rules around sequestration.

Sequestration

Differences between a Trust Deed and Sequestration (Bankruptcy)

If you’re a Scottish resident and have high levels of unsecured debt that just seem to be spiralling out of control, it’s time to take action and start on the road towards financial recovery.

Sequestration

What is a Bankruptcy Restriction Order? (BRO)

A Bankruptcy Restriction Order may be made against you if it’s believed that you acted dishonestly, recklessly or unlawfully before you were made bankrupt, or during your bankruptcy.

Sequestration

Differences between Sequestration & Debt Arrangement Scheme (DAS)

Whether you’re particularly knowledgeable about trust deeds or you’ve never heard of the process before, it’s crucial to recognise exactly what you’d be entering into.

Sequestration

What is a Minimal Asset Process (MAP)? Formerly LILA

The Minimal Asset Process (MAP) allows a path into sequestration, the term used in Scotland for bankruptcy, for people on low incomes and with few assets who may not otherwise be eligible for a formal...

Sequestration

Can I remortgage while in a Trust Deed/Sequestrated/DAS?

If you’re a homeowner in Scotland, and are experiencing high levels of debt, your property may be affected when you enter a formal debt relief procedure.

Sequestration

How can I apply for bankruptcy in Scotland?

If you’re in serious debt with no hope of repaying your unsecured creditors, you don’t have to wait for a creditor to take legal action against you. You may be able to take matters into your own h...