VOLUNTARY SEQUESTRATION – DEBT PROBLEMS AND SOLUTIONS IN SOUTH AFRICA A recent report by TransUnion shows that consumers struggle with debt problems in South Africa.  The credit demand remains worrisome, with defaults on secured debts on the increase. This is especially true for home loans and vehicle finance. The high food prices, petrol price hikes, and related economic challenges experienced are among the reasons for… Read More »DEBT PROBLEMS AND SOLUTIONS

VOLUNTARY SEQUESTRATION AND OTHER DEBT-RELIEF SOLUTIONS IN SOUTH AFRICA Voluntary sequestration is often considered as a last resort after having tried other debt-relief solutions in South Africa. Unfortunately, one can be too poor for sequestration, as the estate must have sufficient assets to ensure that the sale thereof can provide enough funds for minimum benefits to the creditors and payment of the sequestration costs. In… Read More »DEBT-RELIEF SOLUTIONS IN SOUTH AFRICA

WHAT IS LIQUIDATION OF A COMPANY? SOME LEGAL HELP Understanding how the process works and why it can be beneficial in the business world starts with getting an answer to the question: “What is liquidation of a company?” We thus briefly answer the question, helping you to decide whether to apply for liquidation of a company in South Africa. What is important to understand is… Read More »WHAT IS LIQUIDATION OF A COMPANY?

ARE YOU UNABLE TO PAY DEBTS OWED? If you have answered yes to the question of “are you unable to pay debts owed?” it is time to consider voluntary sequestration as a solution. What you should avoid is communicating your situation in writing to creditors. Indeed, it is an act of insolvency to admit that you are unable to pay debts owed or to attempt… Read More »UNABLE TO PAY DEBTS OWED?

WE SPECIALISE IN INSOLVENCY LAW AND CAN HELP YOU BECOME DEBT-FREE Understanding what to do and what to sidestep when you struggle with debt is essential to avoid losing everything in the process and still be liable for paying the debt. We specialise in insolvency law, and can thus help you determine the best course of action to address your debt problems. Indeed, many people… Read More »WE SPECIALISE IN INSOLVENCY LAW

ANSWER TO THE QUESTION: “WHAT IS SEQUESTRATION ORDER?” Understanding insolvency and how it affects your financial position is important in deciding a course of action to take in addressing your debt problems. You may have contemplated various debt solutions, including how to declare bankruptcy in South Africa. To this end, we briefly answer the question of “what is sequestration order?” and related questions below to… Read More »WHAT IS SEQUESTRATION ORDER?

LAW OF INSOLVENCY REGARDING NOTICES TO CREDITORS IN SOUTH AFRICA According to the law of insolvency, a debtor’s estate can be sequestrated by means of voluntary surrender or when one or more creditors apply to court for the compulsory sequestration of the debtor’s estate. VOLUNTARY SEQUESTRATION For the purpose of this article, we look at voluntary surrendering one’s estate according to the law of insolvency… Read More »LAW OF INSOLVENCY

ANSWERS ON YOUR QUESTION OF HOW LONG DOES A SEQUESTRATION LAST? Before voluntary surrendering your estate, you most probably want an answer to your question of how long does a sequestration last? The answer depends on various factors, and we thus briefly look at the circumstances that determine when you can apply for rehabilitation. HOW LONG DOES A SEQUESTRATION LAST IF YOU DO NOT APPLY… Read More »HOW LONG DOES A SEQUESTRATION LAST?

Business debt rescue is a legal process with the purpose of saving a business in financial distress. Temporary management and supervision of the business are in place to put the business back on track and lead it back to a solvent state. If one thus looks at the question of how debt rescue works in terms of a business, then it is about the prevention… Read More »HOW DOES BUSINESS DEBT RESCUE WORK?

Is your company struggling to pay its debts? Does the firm struggle with immediate cash-flow problems? Is it likely that if the debt is temporary stayed and the company restructured that it would be able to operate in a solvent state within six months from the date? Is it in need of debt rescue? If you have answered yes to any of the questions, your… Read More »BUSINESS FAILING? IN NEED OF DEBT RESCUE?