You may be obliged to sell your car or any other vehicle you own after you’ve entered sequestration for the same reasons that you may have to sell your house or any property assets you own. However, this is not necessarily the case because the terms of sequestration arrangements are designed to give individuals the best chance of paying off their debts over a specified term of up to 4 years. So, if you need a car to get to and from your workplace then this will be taken into account by your Trustee and you may be given the option of retaining ownership of your vehicle.On the other hand, if your vehicle is deemed to have a value in excess of £3,000 or you don’t have any real need for it then your Trustee may insist that you sell it to raise whatever cash you can to help settle some of your debts.