What is Sequestration?
Sequestration is another term for bankruptcy, used in Scotland and is an arrangement to deal with debts that you are unable to pay. These payments can usually last for a period of 48 months.
- You could be discharged from your debt within 12 months, as long as you co-operate fully with your Trustee.
- All unsecured debts are normally written off, although you may have to make contributions from your income for up to 48 months.