what are the diffrences between scottish and english bankrupcy?

weewillywinkie

Hi all,

as the title says does anyone know the diffrence between the scottish system and english system?

i seem to be getting myself mixed up.....i live in scotland and have to apply for my own sequestration i do not qualifly for the LILA rout as i am on a jnt mtg with my husband and we have neq equity of around 60k.

my husbands trusted deed has just been ptotected, but i have to wait for a charge of payment to start proceding my sequestration.........(my debts are £10k owed to barclaycard - £12k owed to Mbna and £1k owed to Adams storecard, i am also on a jnt loan with NR £20k) i have stopped paying these cards and have changed my telephone number so that the only way they can contact me is by letter.......is this ok

i dont own anything of value my husband bought everthing in the house and pays for everything, he was allocated £650 per month Food and housekeeping which he trf to my a/c.

do baliffs still come to the house do you still get ccjs given to you in scotland, will i have to go to court?

sorry for the rambling thought that once my husbands trusted deed was protected i would be able to relax a bit but just keep thinking that the worst has yet to come and its all i think about i am a right miserable Moo.:rolleyes:

thanks for reading and any thoughts/ advice more than appreciated.

www

tigerfeet2006

The differences are so much they can't really even be compared.

Have a look at post 2 of the Bankruptcy Help sticky as there is some useful info. on there.

Sorry I can't help any further but sending you some (((hugs))) and hope life gets better for you soon.

ETA: Send coolcait a PM as she is our resident Scottish expert, though there are a few others that post.

loucam

Hi

My brother went bankrupt in Scotland and he didn't have to wait for a Charge for Payment. He also had a Northern Rock loan and he approached them to ask them to be concurring creditors on the bankruptcy. He had a similar size loan to you and had about £20k negative equity. The process from start to finish took about 2 months and Northern Rock were really good (for once!) They agreed almost immediately and my brother was able to keep the house as he is able to maintain payments on it.

I know he was worried about waiting for a charge for payment as depending on who your creditors are this can take a while, leaving you to have to put up with the endless phone calls and letters etc. He didn't tell any of his other creditors about his intention to declare bankruptcy but he had heard that Northern Rock could be sympathetic in some cases.

Also, in Scotland you don't have to go to court to declare bankruptcy. You just fill in the forms either yourself, or with the help of a Trustee, send them off to the Accountant in Bankruptcy and wait for your letter. Think it usually takes about 2 or 3 weeks from sending to actually going through - depends how busy they are though I suppose! Don't worry too much about baliffs etc. Think the first step for most companies is the endless phone calls and letters threatening action, then a few months down the line they may go for a charge for payment etc. If anyone does turn up at your door then just don't answer it! Good idea changing your phone number too!

Hope this helps. Any other questions just ask.

Lou