Wind Up Wind Down

If you can't afford your debt anymore, the first step is to determine whether the problem is temporary or whether your debt has become permanently unaffordable. Here are the options available.

Sequestration does not automatically mean that your salary is attached or taken by the trustee. You can continue earning an income and supporting your household, while qualifying debts are dealt with through the insolvent estate. However, sequestration has legal and administrative costs that must be funded. Understanding what happens to your salary, pension benefits, RAF compensation and inheritance can help you make an informed decision before proceeding.