NEED HELP FROM AN INSOLVENCY PRACTITIONER? GET RID OF DEBT AND REGAIN FINANCIAL STRENGTH
Do you need help from an insolvency practitioner? Perhaps you think that by just admitting to the debt and agreeing with exuberant interests and legal fees for collection, you can keep the creditors at bay for a while until you get cash to pay off the debts. If there is a possibility to do so, then by all means, go ahead and pay them as soon as possible. Just be careful not to pay one and not the others, as this is an act of insolvency.
If you already have threats of judgments, then you need help from an insolvency practitioner if you are unable to pay the creditors. Why? Did you know that judgments stay in effect for as long as 30 years unless paid in full?
Do you realise that it means that unless you pay the debts, you will not be able to enter rent agreements or apply for bank finance, and can even be excluded from job opportunities if you have judgments against you?
Creditors do not go away and the debt just increases, unless you do something now. Do you want to know if you need help from an insolvency practitioner? Then complete the insolvency assessment form online, and our insolvency practitioners will help you determine whether you qualify for voluntary sequestration.
If your situation has worsened to the stage where you cannot reach a compromise with creditors, you need help from an insolvency practitioner, and here is why:
- Any written communication with creditors in which you admit to not being able to pay the full amounts due is an act of insolvency. This gives the creditors the right to apply for your sequestration.
- Most creditors opt to simply attach your assets rather than to apply for your sequestration. This means losing your assets, having judgments against you, and still having to pay the shortfall. Your credit standing will be shuttered, and you will stay in the debt position for years to come.
- Creditors will keep on harassing you, day and night. Every time the phone rings, you have to worry whether it is a debt collector trying to get hold of you.
Sleepless nights and stress because of the mounting debt can cause you to become sick with worry.
You deserve better.
Rather than having every person and institution against you, get help from an insolvency practitioner.
HOW DO YOU KNOW THAT YOU NEED HELP FROM AN INSOLVENCY PRACTITIONER?
We understand that every person’s situation is unique. You did not get to this point by accident. Many circumstances may have collided to get you to the point where debt has become a challenge beyond your imagination.
However, there is hope.
ANSWER THESE QUESTIONS TO GET A FEEL FOR WHERE YOUR FINANCES STAND:
- Do you juggle between accounts to make payments to creditors?
- Have you missed payments because you do not have enough money to pay for basic clothing, food on the table, fuel to drive to work, your cellphone contract, school fees, and medical expenses?
- Do you find that you systematically end up paying rent or creditors late because you have to borrow money short-term to make ends meet?
- Has the bank threatened with foreclosure on your property?
- Have you already cut back on all entertainment and luxuries, and can still not pay creditors and make ends meet?
- Do creditors often call to ask for payments?
If you have answered yes to any of these questions, then you need help from an insolvency practitioner, and it is available right here, and right now. Take the first step towards financial freedom. Complete the assessment online at your own pace to find out if you qualify for voluntary liquidation.
WHAT IF YOU DO NOT QUALIFY FOR VOLUNTARY LIQUIDATION?
The law states that to qualify for voluntary liquidation, you must be unable to pay your debts when due and your liabilities must exceed your assets. It is difficult to assess the situation on your own. That is why our experienced insolvency practitioners are here to help you. If you do not qualify, they will provide you with advice on alternative solutions. You will thus not be left without any discourse to tackle the debt.
KNOWLEDGE IS KEY – AND WE PROVIDE YOU WITH THE INFORMATION YOU NEED
It is impossible to make the right decision just based on what other people say. You need to know that the information you receive can be trusted. In addition, you want an objective opinion, and you can get the legal objective opinion and help here. But to get you started, let us take a closer look at what voluntary liquidation entails.
True, it is not a get-out-of-debt free ticket. It will cost you to lose assets. It will also mean that you will not be able to get a liquor licence, hold some of the government office positions, or enter into a credit agreement without consent from the curator/trustee. But what it does mean is that you:
- Get a break from creditor harassment – from the moment the intention to voluntary sequestrate has been published, the creditors deal with our insolvency practitioners.
- Get a break from paying the creditors – once the notice has been published, you must stop all payments to creditors, as they will receive their benefits after the court grant and sale of assets.
- Can refer a creditor that demands payment to our insolvency practitioners because you cannot, by law, benefit one creditor over the other.
- Do not have to deal with interest that just keeps piling up as the interest on the debt is frozen, making it more affordable and possible to pay off the debt.
- Become debt-free in a relatively short period as opposed to years of trying to pay off debt with high interest and ongoing legal fees, collection costs, and more.
- Can start fresh without debt to rebuild your financial estate and strength.
- Sleep at night, knowing that our insolvency practitioners see to it that all the correct procedures are followed, requirements met, and the process completed.
- Can pay any shortfall on the minimum benefit of 20 cents out of the rand owed without added interest in a lump sum or over an agreed period of 18 to 24 months.
- Have the possibility to keep your firearm and furniture as our insolvency practitioners help to negotiate the buyback of such assets from the insolvent estate at a low auction value.
- Rehabilitate as soon as the requirements are met with the help of our attorneys.
- Keep any personal injury claims money.
- Enjoy protection of your pension money.
You do not need to appear in court as our team presents your application in court. We help you to complete all the necessary documents, such as the statement of affairs, affidavit, and assessments. We also explain the process. You will have a meeting with the trustee/curator. This meeting is important, as you can help the trustee/curator determine the validity of the creditor claims. You will also have a meeting with the creditors along with the curator/trustee, and it is not an interrogation. We are here for you and if any creditor attempts to do so, you can call on us for immediate legal help.
NEED INFORMATION ON THE VOLUNTARY SEQUESTRATION PROCESS?
Let us get you started. First you complete the online assessment form. If you qualify, we explain the process, positives, and negatives. We also explain the costs and how such are paid from the sequestration process.
Once you decide to proceed with the process, our lawyers perform a thorough assessment and publish the notice of your intention to sequestrate. We also provide a notice to the Master of the Court, SARS, and each of the creditors. The court hearing date is set. If no objections are received, the sequestration is awarded.
The trustee/curator is appointed to oversee the sale of assets and distribution of the proceeds to the creditors. The process is completed, and you can apply for rehabilitation once the requirements are met. Here too, you will need the help of insolvency practitioners, and we will handle the process on your behalf.
TO WRAP IT UP
Debt does not go away by itself. If you are unable to pay the debt, then you need help from insolvency practitioners. Want to know if you qualify? Complete the online assessment form and we will be in touch. Need immediate legal advice? Reach out as we are here to help.
Disclaimer: This article is for information purposes only and does not constitute legal advice. Call on our attorneys rather than relying on the information herein to make any decisions. The information is relevant to the date of publishing.