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Sequestration is only available in Scotland. Bankruptcy, or Sequestration, is a legal process that writes off your debts. This means you do not pay them back. You need to pay a one-off £150 fee to the Accountant in Bankruptcy (AiB) before submitting your application. Sequestration. Scottish Bankruptcy Help. StepChange Scotland stepchange.org ? how-we-help ? sequestrati... stepchange.org ? how-we-help ? sequestrati...
In general you will be able to apply if you: You have not been made bankrupt in Scotland within the last 5 years. You must pay the £150 application fee* You must have received advice from an approved money adviser. You are apparently insolvent or have a Certificate for Sequestration, and do not qualify for MAP. Sequestration | Full Administration Process | Trust Deed Scotland® trustdeedscotland.net ? sequestration trustdeedscotland.net ? sequestration
£200 How much does sequestration cost? It costs £200 to apply for sequestration (Scotland), and the request is submitted to the Accountant in Bankruptcy (AiB) with the agreement of any creditors you owe more than £1,500, or with a certificate of insolvency from an insolvency practitioner (IP). Sequestration (Bankruptcy in Scotland): Free Help & Advice - Creditfix creditfix.co.uk ? debt-solutions ? sequestration creditfix.co.uk ? debt-solutions ? sequestration
12 months How long does sequestration last in Scotland? Bankruptcy in Scotland generally lasts for 12 months, after which time, if you've met all the terms and conditions you'll be officially discharged. What happens after you are discharged from sequestration? scotlanddebt.co.uk ? articles ? personal-debt scotlanddebt.co.uk ? articles ? personal-debt