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DD and SO during sequestration

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farmerlamb12
farmerlamb12 Posts: 2 Newbie
edited 19 September 2024 at 6:23PM in Bankruptcy & living with it
Hi, we are going down the route of sequestration. £40,000 in debt due to job loss, unable to pay mortgage and house was in severe negative equity. Home repossessed. 
We both now have good jobs and rent privately. We have no assets or savings and 3 children. We moved to rural Scotland for a fresh start. 
What happens to our monthly payments for the likes of car insurance, council tax, oil etc. there is no way we can afford to pay these off in full and are worried about not getting credit for these or if they freeze our bank account. We only have a basic bank account, no overdraft. Any advice please? We both need our cars for work (not expensive vehicles) and to get our kids to school, very rural so no reliable buses. 

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