Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By Maquis
#24 I see from several postings that to declare voluntary bankruptcy, I just fill the forms, turn up at court and pay the money, the order is made thats it - I understand all that no problem.

I also see that people abroad wishing to declare Bankruptcy, turn up in London at the court (within 3 years of leaving the UK) petition and thats it regardless of where your previous nearest county court was.

I am fully prepared to return to the UK do this, wait a few days for the meeting with the OR etc and that would be that. Most of my debts are English companies (Barclays, Mastercard, TSB Loan etc etc) but, I previously lived in Scotland, so I can include Scottish debt (Royal Bank of Scotland for example) but can I still petition in London? (Due to travel etc etc this is my cheapest and easiest option).

Also, how long would I have to have lived in England before moving abroad, as I did the night before moving. But I have no letters with address etc.

Does anyone know who to contact in Scotland re Bankruptcy, or even have an idea what the procedure might be? Thank you in advance.
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By Nicky
#25 Hi Maquis

It would appear from your question that the debt you have would come under Scottish law, therefore you would need to declare yourself Bankrupt in Scotland as, I'm sure your aware, English and Scottish laws are different. I'm assuming you were resident in Scotland when you took out the debt?

The term would actually be Sequestration rather than Bankruptcy.
Have a read of Sequestrations from this site.

You can also email PCD Solutions as they can offer advice on Sequestrations.

Also, for more information, a Scottish company in Glasgow called Wylie and Bisset can give you information regarding the proceedure involving Sequestrations.

Hope this helps.
By Maquis
#26 Nicky,

I thank you for the fast and helpful answer, it really gives me good info on what to go looking for now.

I had no idea it was called sequestration in Scotland, and you are quite correct, I was resident in Scotland when I took out the debt, as I was prior to moving abroad (except for the last day).

I guess being able to do all this in London in a one-visit trip was a bit of a shot in the dark, and your comments and advice are most welcome.

Much appreciated once again and keep up the good work.


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By Nicky
#27 Happy to help Maq, drop by anytime :wink: