🌱 Sequestration in South Africa: A Fresh Start with Insolvency Care
Feeling trapped by debt? Sequestration, as outlined in the Insolvency Act 24 of 1936, offers South Africans a legal pathway to financial freedom. At Insolvency Care, we guide you through this process with compassion, clarity, and expert legal support.
💡 What Is Sequestration?
Sequestration is a legal process where your estate is declared insolvent by the High Court. A trustee is appointed to manage your assets and repay creditors. This process is governed by the Insolvency Act 24 of 1936, which consolidates and amends laws relating to insolvent persons and their estates.
🛤️ Types of Sequestration
- Voluntary Sequestration: You apply to the court, proving your liabilities exceed your assets.
- Compulsory Sequestration: A creditor initiates the process due to unpaid debts.
🧭 The Process Step-by-Step
- Financial Assessment: Insolvency Care evaluates your debt situation.
- Legal Preparation: Your attorney prepares the court application.
- Court Submission: The High Court reviews and grants the sequestration order.
- Trustee Appointment: A trustee oversees asset liquidation.
- Debt Settlement: Creditors are paid from the proceeds.
- Rehabilitation: After four years (or sooner), you may apply to restore your financial status.
⚖️ Why the Insolvency Act Matters
The Insolvency Act ensures fairness and transparency in the sequestration process. It protects both debtors and creditors, outlining rights, obligations, and procedures—from surrendering your estate to rehabilitation. Understanding this Act helps you make informed decisions and avoid misinformation.
❤️ Why Choose Insolvency Care?
At Insolvency Care, we don’t just process paperwork—we walk the journey with you. Our team offers:
- Personalised legal advice
- Emotional support
- Transparent communication
- A proven path to rehabilitation
📘 Real Stories, Real Hope
“I was drowning in debt after my divorce. Insolvency Care helped me through voluntary sequestration, and today I’m debt-free and rebuilding my life.”
— Anonymous client, Gauteng
“The consultants were very helpful and always there to assist me during the whole process.”
— Mrs Schulz Read more testimonials
“After losing my job, I thought I’d lose everything. Insolvency Care explained my options and walked me through the process. I’m now rehabilitated and employed again.”
— Thabo M., Eastern Cape
📞 Ready to take the first step?
Visit Insolvency Care or Whats App 073 071 3809 for a free, confidential consultation. Your second chance starts now.
Disclaimer: The article is for informative purposes only. It does not serve as legal advice, nor is it intended as such. Please speak to our attorneys before relying solely on the information herein to make any decisions.