Author Topic: Scottish LILA Bankruptcy questions  (Read 7489 times)


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Scottish LILA Bankruptcy questions
« on: Sep 14, 2014, 12:18:03 AM »
Hi, I'm in major debt to the HMRC and a few others, and am looking at declaring Low Income Low Asset (LILA) bankruptcy, as I live in Scotland. Info about this on the web is quite thorough, but there are two questions I haven't been able to work out:

1) I value my car at less than £3000 (bought for £3500 in Oct 2012, but used hard with higher than normal wear & tear since then). I live on a rural farm, and use the vehicle to get to work in remote forestry areas, as I'm a forestry surveyor. Will this car be seized and sold, or will I be able to keep it for work?

2) Do I absolutely need a Certificate of Sequestration, or will the extensive financial details that I will be filling out in the debtor's pack be sufficient? I would prefer to avoid getting this certificate, as it means an expensive trip into the city and I'd imagine a fee towards getting it compiled and issued.