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  • Moratorium Form 33

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This is a DRAFT form which relates to the Bankruptcy (Scotland) Regulations 2016 which are not yet in force. PLEASE DO NOT USEForm 33Moratorium Notice of Intention to Apply Bankruptcy (Scotland) Act.

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The statutory moratorium on diligence provides a period of protection during which creditors cannot take any formal recovery action (diligence) against a debtor for debts owed.

A debt moratorium is a formally agreed period of time when you don't have to make payments towards your debts while you seek help with your financial situation.

Once the six-months are up you lose your protection. You cannot then use a Statutory Moratorium for another 6 months, so you will again become unprotected.

During a moratorium creditors and shareholders are restricted from commencing an insolvency process (liquidation, administration or administrative receivership). Directors may still put the company into a process, and voluntary liquidation is possible if recommended by the directors.

A moratorium period, which is similar to forbearance or deferment, is when your lender allows you to stop making payments for a specific period of time and for a specific reason. Usually, the reason involves some kind of financial hardship.

How long does sequestration last in Scotland? Generally, sequestrations will last for 12 months, after which you will be discharged. However, your trustee may not vacate office for some time after this.

A standard breathing space is available to anyone with problem debt. It gives them legal protections from creditor action for up to 60 days. The protections include pausing most enforcement action and contact from creditors and freezing most interest and charges on their debts.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232