Advantages of sequestration:

• You will be freed from your creditors who will cease pursuing you for the monies owed to them (though you will be required to pay any surplus income to your Trustee)
  
• Benefit or pensions income remain unaffected
• You can normally expect to be be free of debt after a three year period

Disadvantages of sequestration:

• Any assets of value will be required to be sold
  
• If during the period of sequestration your income is above a specific limit you may be required to make regular contributions
  
• Assets gained during the period of sequestration may need to be surrendered to your Trustee
  
• During the sequestration period it is illegal for you to attempt to borrow a sum of money over £250 unless you inform the potential lender of your situation
  
• Your company directorship and company management rights are restricted during the period of sequestration
  
• You will be excluded from assuming certain public positions (e.g. being an MP or sitting on your local council) during
  this period
  
• Your sequestration will be published in the
  Edinburgh Gazette
  
• Even after the period of sequestration is completed you may still have trouble in obtaining credit
  

If you have any further questions please get in contact.