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Bankruptcy in Scotland - Some Advice – If Lucky No Lawyers & No Court
DoshDolt
Posts: 128 Forumite
To start with, I would like to make it clear that I am not an expert in any way. I am simply a guy who has been through the system and would like to help others do the same.
Surprisingly, it is far simpler to declare yourself bankrupt in Scotland than any other part of the UK. (No court appearance for example)
First of all, make absolutely sure that you have no other avenue open to you. Bankruptcy is not to be taken lightly. Other threads on this site will list all of the advantages and pitfalls that you may encounter.
Secondly, seek help from a FREE agency such as the Citizen’s Advice Bureaux, (see below) DO NOT be tempted by any debt firm that promises to help you for a small fee.
After consultation with your debt counsellor, where you have reached the decision that bankruptcy is the only course available to you, you need to get the form. Agencies like CAB sometimes has the form in their office to hand out. Alternatively, you can download and print one out from the web.
The form you need is called "Debtor Application Pack 1" (without concurrence of qualified creditor) and is issued by the Accountant in Bankruptcy (Scotland’s Insolvency Service).
(Note: Business bankruptcy requires a different form, but the CAB will keep you straight.)
Sequestration is the Scottish term for bankruptcy.
The ‘Accountant in Bankruptcy’ (AiB) is the equivalent of the English ‘Official Receiver’ (OR) that you will see listed here. (www.aib.qov.uk)
There is a non-returnable fee of £100 that must be paid into the AiB account before you post the form to them.
When I went to CAB to fill out the form in the presence of my debt counsellor, it made ME feel better, knowing that I hadn’t made any mistakes. I found it comforting to have someone else going through the (very simple) form with me.
Although the form is very easy to fill in – mostly tick boxes – please ensure that you fill out the form VERY CAREFULLY. Any mistake, omission or error could invalidate your claim, which means that you will lose your £100 fee.
I don’t want to give the impression that the AiB are ogres, as they really aren’t. They were unbelievably helpful. If they encounter a problem, or if they need an explanation regarding some issue, they will write to you or even phone you, in order to sort that problem out as quickly as possible. Plain honest mistakes are accepted as mistakes. When you are talking to the man or woman on the phone, they are really pleasant to deal with. However, if you try to hide something and they find out - then they will reject your application and you will lose your fee. In other words - when dealing with bankruptcy - honesty is DEFINITELY the best policy.
In Scotland, once you have posted off the form, that’s about it. The AiB will write to you within 5 days to advise that they have received your form. If they have any questions they will be included in this letter. You must answer these questions quickly and honestly.
About 3 weeks after that, (if all goes well) you will receive a letter from the AiB to advise that your application for bankruptcy has been granted.
As a rule, you will NOT need to see a lawyer concerning your bankruptcy. (Unless there are problems)
As a rule, you will NOT need to go to court (Court attendance only required if there is a discrepancy).
I was amazed at how smoothly my application went. Four weeks after sending off the form, it was all over.
I hope this information helps and that you find it of benefit – even if only to calm your nerves!!
Citizens Advice Bureaux
Citizens Advice Bureaux offer advice about debt problems. If it is a very complicated case, they will usually be able to refer you to a money advice specialist. (Normally these specialists work within the CAB.)
To find your nearest CAB, please check your phone book or computer search engine.
Money Advice Centres and Law Centres
Help with debt problems is available through Money Advice Centres or Law Centres.
The addresses and telephone numbers of Money Advice Centres and Law Centres can be found in the telephone directory. Alternatively, you can look on the Money Advice
Scotland website. www.moneyadvicescotland.org
National Debtline
The National Debtline is a free, confidential and independent telephone helpline. It also provides an information pack on dealing with debt. The line is available on
Monday to Friday 9.00 to 9.00 and on Saturday 9.30. to 1.00. The National Debtline
telephone number is 0808 808 4000 and the website is:
www.nationaldebtline.co.uk/scotland
Surprisingly, it is far simpler to declare yourself bankrupt in Scotland than any other part of the UK. (No court appearance for example)
First of all, make absolutely sure that you have no other avenue open to you. Bankruptcy is not to be taken lightly. Other threads on this site will list all of the advantages and pitfalls that you may encounter.
Secondly, seek help from a FREE agency such as the Citizen’s Advice Bureaux, (see below) DO NOT be tempted by any debt firm that promises to help you for a small fee.
After consultation with your debt counsellor, where you have reached the decision that bankruptcy is the only course available to you, you need to get the form. Agencies like CAB sometimes has the form in their office to hand out. Alternatively, you can download and print one out from the web.
The form you need is called "Debtor Application Pack 1" (without concurrence of qualified creditor) and is issued by the Accountant in Bankruptcy (Scotland’s Insolvency Service).
(Note: Business bankruptcy requires a different form, but the CAB will keep you straight.)
Sequestration is the Scottish term for bankruptcy.
The ‘Accountant in Bankruptcy’ (AiB) is the equivalent of the English ‘Official Receiver’ (OR) that you will see listed here. (www.aib.qov.uk)
There is a non-returnable fee of £100 that must be paid into the AiB account before you post the form to them.
When I went to CAB to fill out the form in the presence of my debt counsellor, it made ME feel better, knowing that I hadn’t made any mistakes. I found it comforting to have someone else going through the (very simple) form with me.
Although the form is very easy to fill in – mostly tick boxes – please ensure that you fill out the form VERY CAREFULLY. Any mistake, omission or error could invalidate your claim, which means that you will lose your £100 fee.
I don’t want to give the impression that the AiB are ogres, as they really aren’t. They were unbelievably helpful. If they encounter a problem, or if they need an explanation regarding some issue, they will write to you or even phone you, in order to sort that problem out as quickly as possible. Plain honest mistakes are accepted as mistakes. When you are talking to the man or woman on the phone, they are really pleasant to deal with. However, if you try to hide something and they find out - then they will reject your application and you will lose your fee. In other words - when dealing with bankruptcy - honesty is DEFINITELY the best policy.
In Scotland, once you have posted off the form, that’s about it. The AiB will write to you within 5 days to advise that they have received your form. If they have any questions they will be included in this letter. You must answer these questions quickly and honestly.
About 3 weeks after that, (if all goes well) you will receive a letter from the AiB to advise that your application for bankruptcy has been granted.
As a rule, you will NOT need to see a lawyer concerning your bankruptcy. (Unless there are problems)
As a rule, you will NOT need to go to court (Court attendance only required if there is a discrepancy).
I was amazed at how smoothly my application went. Four weeks after sending off the form, it was all over.
I hope this information helps and that you find it of benefit – even if only to calm your nerves!!
Citizens Advice Bureaux
Citizens Advice Bureaux offer advice about debt problems. If it is a very complicated case, they will usually be able to refer you to a money advice specialist. (Normally these specialists work within the CAB.)
To find your nearest CAB, please check your phone book or computer search engine.
Money Advice Centres and Law Centres
Help with debt problems is available through Money Advice Centres or Law Centres.
The addresses and telephone numbers of Money Advice Centres and Law Centres can be found in the telephone directory. Alternatively, you can look on the Money Advice
Scotland website. www.moneyadvicescotland.org
National Debtline
The National Debtline is a free, confidential and independent telephone helpline. It also provides an information pack on dealing with debt. The line is available on
Monday to Friday 9.00 to 9.00 and on Saturday 9.30. to 1.00. The National Debtline
telephone number is 0808 808 4000 and the website is:
www.nationaldebtline.co.uk/scotland
You have to fight, fight and fight again just to get what's yours.
0
Comments
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Just bumping this up.You have to fight, fight and fight again just to get what's yours.0
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Just bumping this up again!You have to fight, fight and fight again just to get what's yours.0
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Just bumping this up again!You have to fight, fight and fight again just to get what's yours.0
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Great post for Scottish MSE'rs!.Remember:
Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all.
Dale Carnegie0 -
Hi AJB101,
Many thanks.
Regards,
DDYou have to fight, fight and fight again just to get what's yours.0 -
Bumping this up.You have to fight, fight and fight again just to get what's yours.0
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Bumping this one!0
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Bumping this up the list!!!You have to fight, fight and fight again just to get what's yours.0
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Bumping this up the list!!!You have to fight, fight and fight again just to get what's yours.0
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