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It is the Scottish term for Bankruptcy, a formal arrangement to deal with debts that you are unable to repay with within a reasonable period of time. (Scottish residents only) To qualify, you must have debts of over £3000 and have a certificate for this debt plan. Charge for Payment or Summary Warrant. In addition you must not have been made bankrupt in the past 5 years.

During the sequestration process, a Trustee is given control of all your assets with an option to sell them in order to pay off your creditors which include:

The Trustee can also request a contribution from your income during the sequestration period.


  • Once you have been sequestrated, included creditors are unable to pursue you or take any legal action against you to recover what they are owed
  • Your Trustee (this may be an IP or the Accountant in Bankruptcy) will contact your creditors on your behalf
  • Provided you co-operate fully, the Accountant in Bankruptcy may grant your discharge at the end of one year
  • If you are receiving welfare benefits, these will not be classed as income for the purpose of calculating your monthly contribution
  • Your included debts will be written off once you have been discharged


  • Your sequestration will be displayed on an online Register of Insolvencies, which the public can search
  • Your credit file will be affected for a minimum of 6 years.
  • If you are given money as a gift, you must inform your Trustee. Depending on the amount, you may be required to make this available for your creditors
  • The fee for sequestration, paid to the Accountant in Bankruptcy, is £200
  • If you are a homeowner or have assets these could be sold to pay towards your debts


It is very important that you understand your legal rights and responsibilities if you are in debt. Expert debt advice can make an enormous difference to the outcome of any debt problems you are currently facing.

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today 0141 370 1015

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