Sequestration is the name for personal bankruptcy if you live in Scotland. Sequestration is the way that you can deal with personal debts which you have no hope of repaying in a reasonable period of time.
If you are sequestrated, you will no longer be responsible for paying your debt. You will remain in sequestration for 12 months after which any outstanding debt will be written off.
However, sequestration is a serious matter and the proper advice must be taken before deciding to use this solution.
Sequestration arises in some circumstances because you have decided to declare yourself bankrupt. In other circumstances it can happen because one of your creditors wishes to make you bankrupt.
If you are facing threats of bankruptcy from your creditors we urge you to speak to us as soon as possible. You will not be asked to pay for any advice we give and there is no need to join a long waiting list. By quickly taking advice you may be able to resolve the situation for yourself or create a different outcome that is less severe than bankruptcy.
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