After speaking to an insolvency practitioner, and no other options are available to you, your application for sequestration will go to the Accountant in Bankruptcy (AiB).
The insolvency practitioner will approve your application for sequestration or reject it if they think another solution would be better for you. If approved, a Trustee will be appointed.
The Trustee will act on your behalf and deal with your creditors for you. The AiB will also set the level at which you will repay your debt. If you’re able to, this could be in the form of monthly repayment.
After full administration sequestration is approved, creditors cannot pursue legal action against you or communicate with you. Usually, you are ‘discharged’ from sequestration after one year, although monthly contributions are expected for a total of 4 years.
You can also apply for Minimal Asset Process Sequestration in a similar way.