DO YOU MEET THE REQUIREMENTS FOR VOLUNTARY SEQUESTRATION? If you are considering voluntary sequestration, you need to make sure that you are able to meet the requirements for the application. We briefly discuss the voluntary sequestration requirements below, which should help you to decide whether to follow the sequestration route to become debt-free. Your Debt is More Than Your Assets The first requirement is that… Read More »VOLUNTARY SEQUESTRATION REQUIREMENTS

MISCONCEPTIONS ABOUT APPLYING FOR VOLUNTARY SEQUESTRATION If you are insolvent, earn an income, and have sufficient assets (like immovable property or securities), applying for voluntary sequestration might be the best option to get rid of debt within a short period. Your assets must be sufficient to ensure that the sale thereof can realise the minimum benefit of 20 cents out of the rand for the… Read More »APPLYING FOR VOLUNTARY SEQUESTRATION

WHY SEEK DEBT SOLUTION ADVICE BEFORE YOU APPROACH CREDITORS WITH AN OFFER? If you are struggling to pay your store accounts, home loan, personal loans, vehicle finance, and credit cards, seek debt solution advice immediately. Every day you wait, you increase the risk of creditors taking things further, in order to take a judgement against you. If the bank forecloses on your property and sells… Read More »DEBT SOLUTION ADVICE

FAQ – COMPANY LIQUIDATION IN SOUTH AFRICA Liquidation of a company is a legal process. Therefore, you need the assistance of a corporate insolvency lawyer, to apply to court to declare your company bankrupt. The corporate insolvency lawyer handles the application on your behalf, and guides you through the process. What is Liquidation? It is the legal process whereby, upon court order, the company’s financial… Read More »CORPORATE INSOLVENCY LAWYER

WHEN CAN YOU APPLY FOR REHABILITATION AFTER INSOLVENCY? It is recommended that you apply for rehabilitation after insolvency, as soon as all the requirements for rehabilitation have been met. If you do not apply for rehabilitation after insolvency, you will remain sequestrated for a period of ten years, after which you will be automatically rehabilitated. Rehabilitation is a legal process in which you regain full… Read More »REHABILITATION AFTER INSOLVENCY

HOW TO GET OUT OF DEBT THROUGH VOLUNTARY SEQUESTRATION IN SOUTH AFRICA If you are desperate to get out of debt, and have sufficient assets, to ensure that if they are sold by a court-appointed trustee, and that it can generate adequate funds to pay at least 20 per cent to creditors with claims against your estate, then you can apply for voluntary sequestration. Understandably,… Read More »GET OUT OF DEBT

GET ANSWERS TO YOUR QUESTIONS ABOUT VOLUNTARY SEQUESTRATION IN SOUTH AFRICA We briefly look at the some of the frequently asked questions about voluntary sequestration, to help you decide whether it is a solution for your debt problem. What is Factual Insolvency? It is when your liabilities far exceed your assets. To determine whether you are factually insolvent, you need to determine for what value the… Read More »VOLUNTARY SEQUESTRATION

POSSIBLE DEBT SOLUTIONS FOR YOU If you are in debt, and are looking for possible solutions for you, then look no further. Today, we will briefly look at possible debt solutions for you, to help you gain a basic understanding of what you can do to get out of debt in South Africa. Debt Review Debt Review is perhaps the best known of the debt… Read More »DEBT SOLUTIONS FOR YOU

FAQ – COMPANY LIQUIDATION IN SOUTH AFRICA Liquidation of a company is a legal process. Therefore, you need the assistance of a corporate insolvency lawyer, to apply to court to declare your company bankrupt. The corporate insolvency lawyer handles the application on your behalf, and guides you through the process. What is Liquidation? It is the legal process whereby, upon court order, the company’s financial… Read More »CORPORATE INSOLVENCY LAWYER

WHICH PROFESSIONAL DEBT SOLUTIONS ARE AVAILABLE IN SOUTH AFRICA? Professional debt solutions in South Africa range from administration, debt consolidation, and debt review to voluntary sequestration. For the purpose of this article, we will look at voluntary sequestration as one of the professional debt solutions available in South Africa. The high inflation rate in the country, coupled with high fuel prices and an increase in… Read More »PROFESSIONAL DEBT SOLUTIONS SOUTH AFRICA