Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Sequestration

What is Sequestration?

Sequestration is a term for a type of insolvency similar to Bankruptcy used in Scotland. Following a court judgment, someone will be assigned to manage your estate, including selling off assets to pay off any debt owed.

There are two types of Sequestration:

Voluntary Sequestration where a borrower applies to the Court, after realising there is no way they can repay their debts. They must be able to prove they are insolvent and that it will be in the lender's best interests to do so.

Compulsory Sequestration where a lender applies to the court on behalf of a borrower, having found no evidence that the borrower will be able to pay through the usual channels.

If you are declared insolvent, your name and details will appear on the Register of Insolvencies indefinitely. This is publicly available to view, so will be visible to all prospective lenders, landlords and employers that see your Credit Report during your application. You may also have to disclose prior Sequestration when taking out a mortgage.


Q: How does it appear on my Credit Report?

A: Sequestration will appear under Court Information section of your checkmyfile Credit Report, along with information relating to the issuing court, the amount owed and whether or not the debt was satisfied.

If you haven't already, you can try checkmyfile FREE for 30 days, then for just £14.99 a month afterwards, which you can cancel online at any time.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.

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