WHAT IS DEBT RESCUE? IS IT APPLICABLE TO A BUSINESS? A company’s financial affairs can quickly turn into nightmares for the directors and shareholders. It is at this stage when directors ask the question: “What is debt rescue?” They wonder whether debt rescue can be applied to businesses. Understanding what is debt rescue in terms of businesses is important if your firm is in financial… Read More »WHAT IS DEBT RESCUE?

HOW DEBT RESCUE PLANS FOR DISTRESSED COMPANIES CAN BE WORKABLE ALTERNATIVES TO LIQUIDATIONS Many companies in South Africa have undergone debt rescue procedures. Keep in mind that debt review as a debt rescue means is only suitable for natural persons. As such, companies have to look at other options for debt rescue. DIRECTORS HAVE NO CHOICE BUT TO TAKE ACTION Indeed, where a firm is… Read More »DEBT RESCUE COMPANIES

GET OUT OF DEBT TIPS TO HELP YOU REGAIN FINANCIAL CONTROL Rising living costs, medical emergencies, and fuel price increases are among the reasons you may have fallen into a debt trap. Regardless of the reason for your financial situation, you can get out of debt by following the tips to get out of debt below. GET OUT OF DEBT TIPS – HOW TO GET… Read More »GET OUT OF DEBT TIPS

CAN YOU GET CREDIT AFTER SEQUESTRATION? AND OTHER IMPORTANT QUESTIONS One of the questions we often receive is “Can you get credit after sequestration?” Though the answer is yes, there is more to it, and we thus answer the question and related ones below, helping you to make an informed decision about the management of your financial estate. CAN YOU GET CREDIT AFTER SEQUESTRATION WITHOUT… Read More »CAN YOU GET CREDIT AFTER SEQUESTRATION?

MISCONCEPTIONS ABOUT VOLUNTARY SEQUESTRATION AS A SOUTH AFRICAN DEBT SOLUTION Already in 2016, as many as 40% of the credit active consumers in South Africa could be classified as impaired consumers according to the National Creditor Regulator. The situation is no better now in 2018. Indeed, unemployment is on the rise, petrol prices seem to know only one direction, and that is up. The salaries… Read More »SOUTH AFRICAN DEBT SOLUTIONS

WHAT IS DEBT SOLUTION? VOLUNTARY SEQUESTRATION AS THE UNEXPECTED ANSWER What is debt solution? Other than it being a way to address debt, how is it a solution? If the question does not make sense, read on as we explain it below. A debt solution is basically an approach to eliminate, reduce, or manage what you owe to others. What you owe to a creditor… Read More »WHAT IS DEBT SOLUTION?

HOW SOUTH AFRICAN INSOLVENCY PRACTITIONERS HELP YOU THROUGH SEQUESTRATION The first thing to do if you consider voluntary sequestration is to speak to South African insolvency practitioners. There are many pitfalls to avoid before, during, and after the process. South African insolvency practitioners can help you to minimise losses, ensure compliance with legal requirements, and assist with the rehabilitation process. What you should not do… Read More »SOUTH AFRICAN INSOLVENCY PRACTITIONERS

SEEK GUIDANCE FROM LIQUIDATION EXPERTS BEFORE YOU SELL OR CLOSE DOWN YOUR BUSINESS If you want to sell your business, you need to publish a notice to the effect according to Section 34 of the Insolvency Act No. 24 of 1936. As such, if your business is in trouble and you hope to sell it and from the proceeds of sale, pay off creditors, you… Read More »LIQUIDATION EXPERTS

CAN YOU BECOME DEBT-FREE THROUGH THE VOLUNTARY SEQUESTRATION PROCESS? Having to pay for years on end for a single business mistake or an unforeseen expense that drove your finances into the red does not seem fair. As an alternative, consider the voluntary sequestration process. It is a legal process whereby you can, after you have exhausted all other avenues for a workable solution, apply to… Read More »SEQUESTRATION PROCESS

IS A CONSOLIDATION LOAN ONE OF THE WORKABLE DEBT SOLUTIONS? Get stuck in the debt cycle, and pretty soon, you receive SMS messages, calls from service providers, and emails demanding immediate payment. You can tell the creditors that you do not have money right now and intend to pay as soon as you can, but they want dates and written commitments. Of course, you did… Read More »DEBT SOLUTIONS