Frequently Asked Questions

Click on the question to view the answer:

Q 1.	Is sequestration the same as bankruptcy?
Q 2.	What are the conditions for applying for my own bankruptcy?
Q 3.	What is 'apparent insolvency'?
Q 4.	What is a Certificate for Sequestration?
Q 5.	Is a wage arrestment proof of apparent insolvency?
Q 6.	What is low income/low assets (LILA)?
Q 7.	How do I apply?
Q 8.	How do I pay the application fee?
Q 9.	How will I know my application is successful?
Q10.	How long will my bankruptcy last?
Q11.	Trust deeds or bankruptcy - what is the difference?
Q12.	What will happen to my spouse or partner's assets?
Q13.	I have received a Warrant to Cite. What is this?
Q14.	I have goods on HP. What happens to them?
Q15.	What will happen to my car?
Q16.	What will happen to my home?
Q17.	I'm self-employed. What will happen to my tools?
Q18.	Can I still operate a bank account?
Q19.	Will my employer or neighbours find out?
Q20.	Will I have to make payments from my wages/benefits?
Q21.	How will it affect my credit rating?
Q22.	Who will be my trustee?
Q23.	Can the trustee interview me at home?

If you have a question that is not answered here, contact us:

Tel: 0300 200 2600

N.B. Please note that AiB can not give you advice about which debt relief solution may be suitable for you. If you would like debt advice, please contact a local Money Advisor, Citizens Advice Scotland or a qualified Insolvency Practitioner.

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