Urgent Sequestration Help Please!

msc_7

Anyone on here been through this?

I've recieved a petition for sequestration, and am due in court tomorrow. I haven't attended any of the other court dates, and from what I gather from reading online, I only need to attend this one if I wish to contest the sequestration. Is this the case?

I'm resigned to the sequestration going ahead, as I've no means of paying the money back, and have no assests.

Any advice on this matter would be greatly appreciated.

coolcait

I'm a bit confused, I'm afraid.

Were all the previous court hearings to do with this same petition for sequestration? If so, I'm curious as to why the case has been continued more than once if you weren't there to contest it , as that seems unusual.

If the previous court hearings were the 'preliminary rounds' if you like - summons/initial writ etc - and your creditor has now presented a petition for sequestration, then it's up to you whether you attend the court or not. If you don't attend, then it's likely that the sequestration will be awarded.

If you only got notice of the court date today, however, you would have every right to go along to the court and make that point, and ask for a continuation so that you can get advice from CAB or local authority money adviser, or National Debtline.

If you'd been given more notice of the court date, I'd definitely have recommended that you speak to CAB etc.

msc_7

coolcait wrote: »

I'm a bit confused, I'm afraid.

Were all the previous court hearings to do with this same petition for sequestration? If so, I'm curious as to why the case has been continued more than once if you weren't there to contest it , as that seems unusual.

If the previous court hearings were the 'preliminary rounds' if you like - summons/initial writ etc - and your creditor has now presented a petition for sequestration, then it's up to you whether you attend the court or not. If you don't attend, then it's likely that the sequestration will be awarded.

If you only got notice of the court date today, however, you would have every right to go along to the court and make that point, and ask for a continuation so that you can get advice from CAB or local authority money adviser, or National Debtline.

If you'd been given more notice of the court date, I'd definitely have recommended that you speak to CAB etc.

Sorry for the confusing nature of my post, and thanks for replying.

The other court dates were 'preliminary rounds'.

I've had notice of the court date for a couple of weeks, but I've buried my head in the sand instead of seeking advice as I know I should have done.

I've read lots of stuff online about sequestration, but it's a lot to take in, and I'm not sure if I understand it all properly.

My understanding is that as I have no assets, a payment schedule will be set up to pay back my debts by the court. As I said though, I'm not sure I understand it all properly and I'm wishing I'd dealt with this sooner.

coolcait

That's a very useful reply, thank you. It's very easy to bury your head in the sand under these circumstances, so please don't beat yourself up about it. I just had a slight hope that you might be able to make your creditor look a little foolish by pointing out that they hadn't given you adequate notice .

You could still go along to the hearing and say that you have been unable to get advice on your position, and respectfully request a little more time to do so. The case might be 'continued' (another hearing set for further down the line).

If the sequestration is awarded, the Accountant in Bankruptcy, or an Insolvency Practitioner will be appointed as your Trustee. He/she will contact you, and get you to fill in a questionnaire and statement of assets and liabilities (debts). AiB usually do ths by phone. Their agents, and independent trustees, usually do it in person - either in their offices, or at your home. They may ask you to sign an Income Payment Ageement if you have enough surplus funds to make a contribution to the sequestration.

I'd still recommend that you try to get into see a CAB or local authority money adviser, as they'll probably be able to answer a lot fo your questions face to face.

Good luck!

msc_7

coolcait wrote: »

That's a very useful reply, thank you. It's very easy to bury your head in the sand under these circumstances, so please don't beat yourself up about it. I just had a slight hope that you might be able to make your creditor look a little foolish by pointing out that they hadn't given you adequate notice .

You could still go along to the hearing and say that you have been unable to get advice on your position, and respectfully request a little more time to do so. The case might be 'continued' (another hearing set for further down the line).

If the sequestration is awarded, the Accountant in Bankruptcy, or an Insolvency Practitioner will be appointed as your Trustee. He/she will contact you, and get you to fill in a questionnaire and statement of assets and liabilities (debts). AiB usually do ths by phone. Their agents, and independent trustees, usually do it in person - either in their offices, or at your home. They may ask you to sign an Income Payment Ageement if you have enough surplus funds to make a contribution to the sequestration.

I'd still recommend that you try to get into see a CAB or local authority money adviser, as they'll probably be able to answer a lot fo your questions face to face.

Good luck!

Thanks very much for your advice. I'll attend court tomorrow and try and get them to give me a little more time. I'll also make an appointment with CAB tomorrow and go and see them whatever the outcome.

Thanks again!

coolcait

msc_7 wrote: »

Thanks very much for your advice. I'll attend court tomorrow and try and get them to give me a little more time. I'll also make an appointment with CAB tomorrow and go and see them whatever the outcome.

Thanks again!

Hiya msc

I hope things went OK for you today. If you feel up to it, it would be great to hear how you got on.

Take care.