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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How to fill out the Moratorium Form 33 online

Completing the Moratorium Form 33 is a crucial step in initiating a moratorium under the Bankruptcy (Scotland) Act 2016. This guide will provide you with detailed, user-friendly instructions on how to accurately fill out this form online.

Follow the steps to effectively complete the Moratorium Form 33.

  1. Click the ‘Get Form’ button to access the Moratorium Form 33 and open it in an online editor.
  2. In the first section, provide your full name. If you have any previous names, include them in the designated field.
  3. If filling the form as an executor or person entitled to be appointed executor, enter the name of the deceased individual in the next field. Include any previous names of the deceased if applicable.
  4. Next, indicate the name and type of legal entity on behalf of which you are filling out the form, if applicable.
  5. Fill in the address fields, including the town and postcode. Use your current address if you are completing the form for yourself, or the last address of the deceased if you are the executor.
  6. If you are filling the form in your own right, provide your date of birth. If you are acting on behalf of a deceased person, input the date of birth for the deceased instead.
  7. Select the appropriate intention regarding the debtor application, whether it's to apply for sequestration, fulfill conditions for a protected trust deed, or apply for a debt payment program.
  8. Indicate whether you have given notice under section 195(1) of the Bankruptcy (Scotland) Act 2016 in the past 12 months.
  9. Acknowledge that your information will be entered in public registers as specified in the form.
  10. Once you have completed all relevant fields, review the provided information for accuracy. After confirming its correctness, you can save changes, download, print, or share the form.

Get started on your Moratorium Form 33 application online today.

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What is the moratorium on diligence Scotland?

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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