Sheriff Officers
Sequestration - How much does it cost?
Ironically enough, in Scotland you actually have to pay in order to go bankrupt. These fees are not astronomical, however, and many people choose to pay a little extra in order to have a professional handle their sequestration on their behalf.
Sequestration charges explained
When you go through sequestration you are required to pay Administration fees to the Accountant in Bankruptcy. This currently amounts to £100.
Although it is possible to complete the Debtor's Petition yourself and go through the sequestration without an adviser, this is generally not recommended. At the beginning of the Debtor's Petition it says, 'we strongly advise that you seek advice, if you have not already done so, before applying for bankruptcy'. You then have to disclose whether you have had the form filled in professionally or attempted to do it yourself. Thus it is always a good idea to get input from professionals when taking the important step of declaring yourself bankrupt.
DMS provide a comprehensive Sequestration and Bankruptcy Service. We fll in the Debtor's Petition on your behalf and provide you with all the advice and support you need. You will be assigned a personal debt adviser who will be with you every step of the way, contactable at any time via their mobile phone.
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