HOW VOLUNTARY LIQUIDATION OF A BUSINESS WORKS IN SOUTH AFRICA It is no secret that start-up businesses have tremendous capital layouts, and often land in deep water within a year. Getting out of debt is difficult as is, but add problems, such as VAT payments, SARS returns, and upfront expenses related to large contracts, and it is a recipe for disaster. When there is a… Read More »LIQUIDATION
HOW TO GET OUT OF DEBT FAST The festive season, in particular, is a time of overspending. Credit cards are maxed out in order to pay for gifts and expensive holidays. Just after the festive season, people face expenses, such as having to pay school deposits and fees. They must pay membership fees to organisations, and have to pay upfront for the extramural activities of… Read More »GET OUT OF DEBT
TIPS ON HOW TO GET OUT OF DEBT IN SOUTH AFRICA With the fuel price at its highest ever, inflation skyrocketing, and salaries not being adjusted to make provision for the higher living costs, many South Africans find it almost impossible to service their debts. Indeed, they are caught up in a never-ending debt cycle. If you are one of the millions of people struggling… Read More »HOW TO GET OUT OF DEBT
HOW LIQUIDATION CAN HELP TO SAVE JOBS It is your responsibility as a business owner to protect the assets of your business. Part of this entails getting to know the requirements of the Companies Act, and knowing when it is time to speak to South African liquidation experts. Though it may seem strange, liquidation can be used as a means to save the jobs of… Read More »SOUTH AFRICAN LIQUIDATION EXPERTS
VOLUNTARY SEQUESTRATION AS AN ALTERNATIVE TO OTHER APPROACHES IN DEALING WITH DEBT ISSUES Voluntary sequestration is an effective legal means to get rid of up to 80% of your debt in one go, and to become completely debt-free within a relatively short period. Many other approaches are followed, but be careful about such methods. Avoid the following means to address debt, as you will only… Read More »SEQUESTRATION
HOW TO DEAL WITH INSOLVENCY IN SOUTH AFRICA Before 1995, it was still possible to be imprisoned for non-payment of debts. Back in the day, if a debtor was not able to pay their debts, the debtor was considered a criminal and treated as such. However, it is no longer legal to imprison someone for unpaid debt, except for debt owed to SARS, but that… Read More »INSOLVENCY
HOW REHABILITATION AFTER INSOLVENCY WORKS IN SOUTH AFRICA Voluntary sequestration is an effective means to get rid of your debt. It affords you the opportunity to start fresh and live using cash rather than depending on credit. Once the relevant period has lapsed and conditions have been met, you can apply for rehabilitation. Rehabilitation after sequestration is automatic if a period of ten years has… Read More »REHABILITATION AFTER INSOLVENCY
IS IT TIME TO LOOK FOR FAST AND EFFECTIVE DEBT SOLUTIONS? Did you overspend during the previous festive season, and then came home to find the pool pump no longer doing its part to keep the water flowing? To add to your misery, SARS phoned and demanded immediate payment for outstanding taxes, and to top it all, your pedigree dog had to undergo surgery, which… Read More »FAST AND EFFECTIVE DEBT SOLUTIONS
INSOLVENCY LAWYERS TO ASSIST WITH REHABILITATION AFTER SEQUESTRATION IN SOUTH AFRICA Rehabilitation is a legal process whereby you apply to the High Court of South Africa to be relieved from your insolvent status. The effect is that you will regain the legal status you had before the sequestration. Your credit record will show that you have been rehabilitated and are no longer under sequestration. Unless… Read More »INSOLVENCY LAWYERS
ISSUES REGARDING LIQUIDATION OF YOUR BUSINESS If a creditor wants to bring an application for liquidation of your company, the creditor must be able to prove that it would be fair and just to liquidate your company. The creditor must prove that your company is insolvent and thus unable to pay its debts. If you want to bring a voluntary application for liquidation of your… Read More »LIQUIDATION