Welcome to the forum bigcheesebaps.

Yes, sequestration will cut down any wage arrestments.

Once your sequestration is granted you'd effectively bring any legal actions currently pending for unsecured debts to an end.

thanks trust deed assistant,information much appreciated!
cheers BCB

This was one of the welcome changes to the Trust Deed regs last November as before, sequestration stopped wage arrestments, but trust deeds did not stop pre existing legal action. Thankfully this has now been amended so that both deal with it.

Best idea is to notify the Sheriff Officer that you are entering bankruptcy as they will normally notify their clients to avoid any further costs.

Mark

thanks mark,will inform them.many thanks.

The Debt Arrangement Scheme would also stop a wage arrestment, bigcheesebaps. I would urge you to get advice about all of your options before choosing a particular route.

Also, if you do decide upon sequestration, then you have the choice as to whether to nominate a trustee to deal with the sequestration or not. By nominating an Insolvency Practitioner to be Trustee then you can agree beforehand as to what level of contribution you would have to pay, rather than taking your chances with the Accountant in Bankruptcy. Definitely worth looking into if you want more certainty about the process before you enter into it.

thanks kevin,will weigh up my options,cheers BCB.