Hi juliet.

That's great to hear. You must be very relieved? Thank you for your kind words about the site.

I'm pretty sure a windfall would be yours to keep. Presumably you were discharged two years ago?

Hopefully one of our experts will confirm.

Hi, yes I was discharged 2 years ago.

Great news. Well done.

paul

Well done Juliet. Yes you are right - any windfall would be yours to keep. Keep dreaming, somebody has to win big!

Hi juliet,

I'm normally saying well done on completing your Trust Deed to people on the forum but in your case it's well done on completing your Sequestration!

How did you find the whole Sequestration process? For most people the thought of that can be terrifying but it's not actually as bad as people first think. (For people reading and don't know Sequestration is the term we use for Bankruptcy in Scotland).

Hi David, I had no idea what a TD was as I had just moved to Scotland and never heard of it, so I saw an advisor at CAB who explained the entire process, I was adamant this is what I wanted as I did not want the stigma of bankruptcy, after speaking to the Trustee I was advised that TD was not for me and the only option was bankruptcy, I was distraught at this as it would affect my career.

So, I got another job.

I was discharged after 12 months and the payments carried on for the next 24 months with I&E updates every 6 months.

I have had very little communication with the Trustee as it was not necessary as everything went so smoothly.

It feels great to have disposable income again and not rely on credit cards.

I am now saving hard for a mortgage deposit and can say it has been a lesson learned the hard way and definitely not one that will ever be repeated.

Thanks to all the experts on here for making the last 3 years more bearable.

Hi juliet,

It's good to hear that things went so smoothly for you regarding your Bankruptcy.

The majority of the time a Bankruptcy runs very smoothly and without any problems. It's the common myths about it which can really scare people and put them off considering it as an option.

Good luck with saving for your mortgage deposit, I'm sure the extra money per month will help with this. Let us know how you get in when you've saved enough of a deposit to start looking at mortgages and if your able to secure one.

Hi, I have been told by my trustee that it will take 3 months for them to be discharged, this is for sequestration, can any of the experts on here explain the system to me and why such a long time for discharge after I have made the final payment.
Thanks in advance

Hi juliet.

I'm not sure why it would take quite so long.

As you're discharged already is it holding you back at all if your trustee takes a little time over this?

After Tuesday payment,one payment left......I CANNOT WAIT !! Qui quest 3 years ever..... After august would quite like time to slow a little!!

Nearly there cal.

Hang in there!!

It's not holding me back at all, it will just be nice to draw a line under all of this.

I an understand that juliet.

Hopefully the time will pass a little quicker now that you're not having to make the payments.