Customer LoginSequestrations are only available to Scottish residents. If your debts are unmanageable you could regain control of your finances in a relatively short period of time.
Your steps from set up to completion
We’ll talk through your circumstances, and take a look at your income and outgoings.
We’ll give you free, impartial advice on a way to start becoming debt free.
If Sequestration is your chosen solution, we’ll guide you through your next steps and refer you, if you wish to a qualified Insolvency Practitioner who can take the Sequestration forward for you.
There is a £150 application fee for Sequestration that should be paid to the Accountant in Bankruptcy (AiB).
Is a Sequestration right for me?
How it helps
You’ll usually be free of your unsecured debts after 12 months.
It’s a chance to make a fresh start with your finances.
Your unsecured lenders can’t contact you or chase you for payments.
Things to consider
If you’re a homeowner, you may be asked to sell your home and use the funds raised to pay towards your debts.
Details of your Sequestration will be added to the Register of Insolvencies.
Your credit rating will be impacted for six years.
To find other sources of free advice visit Money Helper. It’s here to listen and give free, impartial, trusted guidance. Based around you and backed by government.
To find other sources of free advice visit Money Helper. It’s here to listen and give free, impartial, trusted guidance. Based around you and backed by government.
Why Financial
Wellness Group?
We'll take the time to really understand you and your financial situation and make sure you have everything you need to make a real change.
Your financial situation is unique , so we'll tailor a solution just for you.
Whether online or over the phone, we'll give you all the advice and help you need.
Our teams are only targeted on getting the right solution for you.
Let's talk today
Answers to common Sequestration questions
Will it affect my credit history?
Sequestration will have a serious impact on your credit rating for up to 6 years and will appear in the publicly available Register of Insolvencies.
You will not be able to obtain credit that is over £2,000, or take out credit when you already have credit of £1,000, with first telling the lender you are bankrupt.
Will my home be at risk?
If you’re a homeowner, you will be expected to release any equity in your property to help repay your debts.
Will it affect my job?
Sequestration could impact on certain types of jobs, for example, if you’re a company director.