I currently have unsecured debts of approx 25K. I have no assets, the house is in my wife's name and this has always been the case. Spoke to an I.P who advised, that due to my current I & E, a trust deed was not suitable due to insufficient excess funds each month. I was advised to hold tight and wait for a creditor to take action against me. I have made no payments for over 5 months and apart from having 2 default notices issued have had no further action taken.
1 My main creditors are HBOS 12K & Monument 7K can anyone advice how long it would take for them to take further action that would allow me to apply for sequestration?
2 If applying for sequestration would my wife's income be taken into account, or would it only be mine as all debts are in my name?
3 If sequestrated would it affect my wife?
4 How long is sequestration noted on CA agency details, would I ever be able to obtain low level credit ie mobile?
5 I pay into company pension scheme, would this be taken into account when applying for sequestration or would I be expected to withdraw from scheme?
Sorry for the length of message but any advice would be greatly apreciated.