Complete Clarity Solicitors



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Family Law solicitors
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Personal Insolvency Lawyers Glasgow, Edinburgh, Inverness & Aberdeen, Scotland

Unmanageable debt is a serious problem for many individuals. At Complete Clarity, we understand how overwhelming this can be and can help you consider your options, each of which has its own risks as well as benefits, and find the best way forward.


Sequestration is the Scottish legal term for bankruptcy. An individual can enter voluntarily or be forced by a creditor owed more than £3000. It involves handing over an individual’s estate to an appointed Trustee who will administer the process. It is the responsibility of the appointed Trustee to sell the assets in order to pay the costs of managing the bankruptcy and pay the creditors as much as possible. It is possible to keep some assets, such as clothing, needed for everyday living and it may be necessary to make some payments from any ongoing income.

The advantages of sequestration are that the individual pays only what they can afford of their debts; it is not necessary to appear in Court; and legally it protects from further enforcement action by creditors.

Sequestration can affect a person’s credit rating as it will be recorded in the credit reference file for six years. It should be seen as a last resort for those individuals struggling to meet their unsecured debts.

There are options available, designed to provide ways of paying back creditors, in part or in full, but with subtle differences:

Trust Deed

Under a Protected Trust Deed, any payments that were being made to creditors cease. Any surplus income is paid to the appointed Trustee over a period of typically four years. Creditors must deal with the Trustee rather than the debtor who is protected from further legal action.

The Debt Arrangement Scheme

This scheme involves making payments to creditors based on what can be afforded but with the objective of fully paying off debts. Interest and charges are frozen and included creditors cannot take further action to recover their debt. The term is fixed when the arrangement is made providing a degree of certainty. It can also help protect the family home if mortgage payments continue to be made.

The Minimal Asset Process

This bankruptcy process was introduced in 2015. It is aimed at individuals with few assets and income and unsecured debts between £1500 and £17000, assisting them to clear debts within a reasonable period.

Whichever route being considered, it is important to seek expert advice.

Contact our Expert Personal Insolvency Lawyers in Glasgow, Edinburgh, Inverness & Aberdeen, Scotland

Based in Glasgow, , East Kilbride and Edinburgh, we provide clear and practical legal services to people across Scotland. We can advise creditors in relation to their rights to recover debts owed to them and advise individuals facing personal insolvency, or who have been made bankrupt to protect assets such as the family home. To find out how our experts can help you, or to arrange an initial consultation with one of our personal insolvency solicitors, call us today on 0808 273 6766 or complete our online form.

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Please note: We do not offer legal aid

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