Sequestration
Sequestration is a form of insolvency and may be suitable if you can’t pay back your debts in a reasonable time. Assets you own, such as your house or car, could be sold to pay off your debts.
If your assets are worth more than your debts, or if all of your regular payments are up to date and you can afford to keep paying them, sequestration may not be the right solution for you.
Sequestration
While sequestration may be the best solution to deal with your debts it’s important to understand the benefits and risks associated with it.
Benefits of Sequestration
What are the benefits of Sequestration? We’ve compiled a handy list of the main points below, click a heading to read more.
Be Debt-Free Fast
You can be debt free in a short amount of time.
Possibility of Debt Write Off
All your unsecured debts are usually written off, though you may be required to make a contribution.
No More Demands
You’ll receive no further contact from your creditors.
Risks of Sequestration
What are the risks with Sequestration? We’ve identified and listed some of the main drawbacks below, click a heading to read more.
Assets May Be Sold
If you have any assets, like a house or car, these may be sold to release funds for your sequestration.
Possible Job Implications
It may have implications for your job – for instance you will not be able to act as a company director.
Loss Of Credit
You may find it difficult to take out credit, as sequestration will be recorded on your credit file for six years.
No More Being Chased
Your creditors can’t chase you for the money you owe them.
Includes Most Unsecured Debt
Most unsecured debts are included in sequestration.
The Debt Centre Provide Friendly Debt Help and Practical Solutions
We treat every customer as an individual and our support is tailored to your personal circumstances, ensuring your best interests are central to our ethos.
We will run through all the options available to you and then we will guide you through the next steps of the process.
We define ourselves by our values as a business. These values inform the way treat our customers and our staff.
Practical Debt Management Solutions
Individual Voluntary Arrangement
Debt Management Plan
Trust Deed
Debt Relief Order
Debt Consolidation Loan
Bankruptcy
