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What is Sequestration?
Sequestration is the Scottish equivalent of personal bankruptcy and previously, sequestration was only really regarded as the last Scottish debt solution due to the long term credit impact and the stigma which may have previously been associated with personal insolvency.
There are two main types and these are known as the Certificate for Sequestration and LILA. Your eligibility for each depends on your ability to repay debt and how much you owe.
YOU SHOULD ONLY REALLY CONSIDER SEQUESTRATION WHEN ALL OTHER OPTIONS HAVE BEEN EXHAUSTED, SEQUESTRATION WILL HAVE A PERMANENT NEGATIVE IMPACT ON YOUR CREDIT RATING.
After being on a Debt Management Plan for five years and getting nowhere, I had previously looked at a Trust Deed but was ineligible because my income was too low. Bankruptcy seemed like a harrowing prospect but when Sequestration Scotland explained what the Certificate for Sequestration was, I immediately felt at ease.
"Thanks to the advice I received from Sequestration Scotland, I am completely debt free."
The Certificate for Sequestration was introduced by the Scottish Government in November 2010 to help residents of Scotland with unsecured debt problems.
Sometimes wrongly quoted as a Self Certified Sequestration, Certified Sequestration, a Certificate for Sequestration can help you clear from £6,500 of unsecured debt from as little as £150 per month.
After completing the Certificate for Sequestration quote form, we will provide you with an instant quote indication and whether you could qualify for a Certificate for Sequestration.
A Certificate for Sequestration is administered by a licensed Insolvency practitioner; £100 fee apply.