Hello darnk0,

Hopefully sequestration may not be necessary - although if you cannot afford anything then it might be better as you could be discharged after a year in a sequestration and a contribution payment might not be needed from you at all.

In terms of bank accounts, your existing account may not necessarily be closed. Your bank will reserve the right to do so, but in practice as long as they are not a creditor of yours then there is a good chance that you bank account will be unaffected (or that you will just be downgraded to a more basic package). It might be a good idea to get another account open somewhere just in case it is needed, as it will be easier to do now than after sequestration.

hi kevin i went to see my trustee today they have said there is no other choice but to start sequestration they cant allow me to get further behind im already ?ú900 behind already and they cant allow it to continue like this
i have informed my bank as to what is going on they are happy to allow me to keep my account going i will just need to wait and see what happens next

i have seen my trustee again they have they are going to resign from the
trust deed and when they have reigned i will have no other choice but to make myself bankrupt how do i go about this and what are the costs

Hi darnk0, As far as I believe Sequestration is very similar to a trust deed. They will assess how much you can pay monthly(if atall anything) and you will be released from your Sequestration after 12months however if you are in a position to still keep paying something towards it then you will for the remaining 24mths (36monthly payments in total just as in a trust deed). As Kevin said in his earlier post depending on your financial circumstances you may not be required to pay anything if you do not have enough surplus income. Im sure it will cost you ?ú100 to seek your own Sequestration but i would wait for one of the experts to reply to you. I signed my trust deed 3 weeks ago this Friday and I am using Julie from this site. I am very pleased with the help and advice I have received from Julie she has been an angel. You should maybe try someone from here. I know if my trust deed does not become protected I will be going down the Sequestration road too but I am not worried about it as Julie has explained everything. If its the only way out go for it. Good Luck!!!

i think right now my outgoings every month is now more than my wages and that does not include the trust deed fee i was told to stop paying trust deed and once the trustee resigns then i was to go to citizens advice to see about applying for bankruptcy myself my problem it costs 100 pound to apply for banruptcy that money i do not have i dont know where i go from here