If you have disposable income left at the end of the month then this may be claimed by the trustee as a voluntary contribution to your sequestration. If you and the trustee cannot agree the amount of contribution, the trustee can ask the court to fix a contribution, which is similar to a wage arrestment. If you are currently receiving state benefits as a form of income then it is unlikely that you will asked to contribute.
Complete our short enquiry form to see how we can assist you and we will call you back. Alternatively you can contact us.
To be sequestrated you must owe at least £1,500 and either:
one or more of your creditors must have taken you to court to enforce or demand you repay a debt or you must have been on a debt payment programme under DAS that has been revoked and one of the creditors in the DPP have been to court and obtained a decree on one of the debts.
Anyone can be sequestrated if you owe over £1500 and are struggling to make repayments when they fall due.
Creditors are legally no longer allowed to harass you for payment and no further action can be taken.
The debt will be wiped off completely.
Pensions and benefits will not be affected.
Could be Discharged from sequestration within 12 months
Clear Insolvency is trading name of Hamilton and Clarke Ltd.
Registered in the UK. Company no. 6465374. Consumer Credit License (UK) 612841
Clear Insolvency, 27 Old Gloucester Street, London, WC1N 3AX
