Bankruptcy (known as Sequestration in Scotland) is the most severe result of being in serious debt. By declaring yourself bankrupt you do get a fresh start, relief from your debt and protection from your creditors but:

• Your situation will be advertised in the newspapers.
• The trustee in the sequestration is under a duty to investigate and report any suspected offences in the lead up to your insolvency
• You will be unable to act or continue to act as a director of a company or be involved in the management of any company,
  you may also risk losing your job.
• The process is court driven and often results in a poorer outcome for your creditors due to the higher costs involved

There is a better way

A Trust Deed allows you to avoid the formality, added expense and stigma of Sequestration. It acts as a legally binding agreement between yourself and your creditors and means that you pay back an affordable amount over a set period (usually 36 months) in full and final settlement of everything you owe.

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Fees & key information

• What fees will apply? When you talk to one of our advisers, they may recommend that you enter a debt solution to tackle your debts - and fees will be charged if you do. We're one of the UK's longest-established providers of debt solutions, and pride ourselves on providing an excellent service at a highly competitive price.
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• What effect will it have on my credit rating? It will affect your ability to obtain credit for 6 years.
• Will I be able to change my mind? Talking to our advisers will place you under no obligation whatsoever. Should you choose to enter a debt solution, you will have the legal right to change your mind at any point in the first 14 days of its term.

Subject to eligibility and acceptance. Debt write off applies to unsecured debts and only on completion of a Trust Deed, alternative solutions may be offered. Fees payable for continuing services. Your ability to obtain credit will be affected for 6 years. Homeowners will be required to release the equity in their property. Calls may be recorded.