another question about sequestration

weewillywinkie

Hi,

Sorry have another thread opened up elsewhere but wanted the forums opinon on this.

How do i start the process of sequestration?

Do i not pay my credit cards this month at all not even a small token payment?(all income/expenditure in OH trusted deed)

The loan payment that we have in jnt names will still be paid this month as NR have advised us that they cant seperate the payment from the Mtg until they get my confirmation of my husbands trusteed deed-only then will they come after me for the full amount(which i obviously cant pay)- they are my best bet for getting a charge of payment.

Are the phone calls you get very nasty-dont think i will be able to handle that.

All our income/expenditure has been taken into account by my husbands trusted deed even CB as he is the only earner so no funds left to pay my personal debts(he was paying them before)

How will this be reflected when i have to submit a SOA as my OH will be giving me 600pm housekeeping.

Also(final one i promise) our house will we be able to keep it? Our outstanding mtg is 283k we have a secured loan of 85k against it and value is 300k(my OH can still pay for the mtg ect)

Thanks in advance for any answers you have(am desperate for a decent nights sleep up all night worring even my nightly dose of NYTOL is not working any more)

Thanks:o

philnicandamy

Not many scottish experts around at the mo.....but for a start....


Information for those in Scotland.


Advice on bankruptcy.

• Consumer Credit Counselling Service (Scotland) - Website: CCCS Telephone: 0800 138 3328
• National Debtline (Scotland) - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

Others:

• Business Debtline Scotland - Website: Business Debtline Telephone: 0800 197 6026
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

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Accountant in Bankruptcy (equivalent of the English Insolvency Service).

Main website: www.aib.gov.uk

For general queries about insolvency (but not debt advice) you can contact: General helpline - Tel: 0845 762 6171 - Email: [EMAIL="Helpline@aib.gsi.gov.uk"]Helpline@aib.gsi.gov.uk[/EMAIL]

Bankruptcy

Low Income Low Assets.

Debt Arrangement Scheme

Trust Deeds

Bankruptcy after 1 April 2008

• DAIP - Debt Advice and Information Pack
• Debtor's Guide
• Creditor's Guide
• Bankruptcy Restriction Guide
• Trust Deeds Guide

Bankruptcy before 1 April 2008 (follow for links)

National Debtline Factsheets (Scotland)

• Bankruptcy
• Credit reference agencies
• Debt Arrangement Scheme (DAS)
• Debt management plans
• Enforcing a debt against you by diligence
• Fines in the district & sheriff courts
• Harassment
• Homeless - what should I do?
• How can I complain about my lender?
• How can my landlord end my assured tenancy?
• How to avoid debt at christmas
• How to deal with business debts
• How to deal with Hire Purchase debt
• Liability for debts & the Prescription & Limitation (Scotland) Act 1973
• How to make offers in full & final settlement
• Mortgage shortfalls
• Negative equity - What can I do if I want to move?
• Recall of decree
• Recovery of council tax
• Time orders
• Time to pay directions & orders
• Trust deeds
• What happens when a creditor takes court action against you?
• What if a creditor refuses my offer of payment?

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weewillywinkie

thanks for that phil

just wish this would all go away cant function at the moment.

weewillywinkie

philnicandamy

It'll seem like a rollercoaster for you....we all know how your feeling (we've been through & done it ourselves) get yourself some free advice & keep posting here

There IS a solution to all this but sometimes it takes a little while....

isabella01

Hi weewillywinkie
Sorry to hear you're where you are right now..it is bl**dy horrid I know..but you will get out of it and the phone calls aint too bad honest..I dreaded em and remained calm and said I was in the process of being given debt advice via trading standards and most were fine.
I can't answer questions about your house and housekeeping etc as we(my partner & myself) self sequestrated via the low income low assets option(we own nada not our house and we are both on benefits due to our disabled son)
I would suggest you look for your local money advisor ours was a absolute godsend
look on the Money Scotland website
http://www.moneyscotland.gov.uk/das/das_display.jsp?pContentID=173&p_applic=CCC&p_service=Content.show&
It just made it an easier road travelled with someone to guide us and support us through it.
Hope all goes fine for you...
Izzy

weewillywinkie

thanks for that izzy,

have spoken to cccs and have an interview with them next friday i just want some one on my side who i can talk to about this process as the company that suggested that i become sequested was new tomorrow and they have not been that help ful to be honest, but cccs have advised me that they will help me through the process.

weewillywinkie

Rictina

Best of luck, from a fellow Scotty. Try not to worry, you`ll get through it !