WBDebtcare: here to help
It may not be the first thing on our minds when a loved one passes away but dealing with an insolvent estate after a death can be emotive as well as complex.Call us: 0141 566 7038
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Wylie & Bisset, a registered limited liability partnership (Ref: SO301911), with its registered office at 168 Bath Street, Glasgow, G2 4TP, is a data controller and is registered with the Information Commissioner
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When Is An Estate Bankrupt
Bankruptcy is the legal process that is followed when someone has become insolvency. The Scottish term for bankruptcy is sequestration.
After someone passes away, their estate is insolvent when there is not enough money to pay off their debts. If an executor is appointed and it is established the deceased estate is insolvent, then they have an obligation to take steps to sequestrate the estate.
If there is no executor appointed, then anyone entitled to act as one can take steps to place the estate into insolvency.
How we can help…
It is a common misconception that that a debt in written off after an individual passes away. This is untrue as any debts need to be paid from the deceased estate before any beneficiaries receive any inheritance.
Debt Arrangement Scheme
Pay off your debts over a series of manageable payments, without worrying about charges or interest.
affordable creditor agreement
make monthly contributions towards your debt over 4 years, after which all remaining debt will be wiped out.
a fresh start
Sequestration is the Scottish version of bankruptcy and may be suitable for you if you do not have the money to pay back what you owe.
Is a DAS right for you?
Watch to find out why a Debt Arrangement Scheme might be one of our three solutions that’s right for you.