VOLUNTARY SEQUESTRATION REQUIREMENTS AND BENEFITS IN SOUTH AFRICA Voluntary sequestration is a legal process whereby an individual applies to have their financial estate surrendered and be declared bankrupt. However, even before voluntary sequestration, a debtor can try to solve their debt repayment problems. OTHER DEBT SOLUTIONS One such an option is voluntary distribution, whereby the debtor’s attorneys negotiate with creditors to have the debtor enter… Read More »VOLUNTARY SEQUESTRATION REQUIREMENTS

INSOLVENCY – ANSWERS TO THE QUESTION OF HOW LONG DOES IT TAKES Insolvency is an ideal legal method to regain financial stability and getting rid of debt. The insolvency is attained through the surrendering of one’s estate as a natural person. The assets in the estate are valued and then sold on auction. The proceeds from the sale are distributed among the creditors to ensure… Read More »INSOLVENCY – HOW LONG DOES IT TAKE?

SEEK ADVICE FROM AN INSOLVENCY PRACTITIONER BEFORE APPLYING FOR VOLUNTARY SEQUESTRATION With insolvency law in South Africa being rather complex, it is best to get legal guidance from an insolvency practitioner regarding the timeframe of voluntary sequestration, the process, benefits and disadvantages, and legal implications of insolvency. We briefly look at some aspects of voluntary sequestration, giving you an idea of why it is important… Read More »INSOLVENCY PRACTITIONER SOUTH AFRICA

GET LEGAL GUIDANCE FROM PROFESSIONAL INSOLVENCY PRACTITIONERS TO AVOID SEQUESTRATION PITFALLS Our professional insolvency practitioners work with voluntary sequestrations and liquidations on a daily basis. As such, we are able to help you avoid costly pitfalls regarding debt solutions. In addition, we are committed to providing you with sufficient information to help you make an informed decision about your current and future financial affairs. We… Read More »PROFESSIONAL INSOLVENCY PRACTITIONERS

WHEN ALL OTHER DEBT SOLUTIONS HAVE FAILED If you have tried to borrow money for debt consolidation but are so overindebted that the loan application was rejected, you are probably desperate for another solution. Maybe you have already entered debt review but have realised that it will take you years to become debt-free. As far as debt solutions go, you have reached the end of… Read More »DEBT SOLUTIONS

WHICH DEBT SOLUTIONS IN SOUTH AFRICA WILL WORK FOR YOU? If you are looking for workable debt solutions in South Africa, you have probably considered debt review, administration, and debt consolidation loans. With debt consolidation loans normally carrying high interest rates, they often add to the debt burden instead of helping you to get rid of debt. Administration is only applicable if the debt amount… Read More »DEBT SOLUTIONS IN SOUTH AFRICA

WHAT IS THE ROLE OF THE INSOLVENCY LAWYER REGARDING VOLUNTARY SEQUESTRATION IN SOUTH AFRICA? Many South Africans are unable to pay their debts and are looking for debt solutions. One such a solution is voluntary sequestration, wherein an insolvency lawyer applies on behalf of the insolvent party to have the party declared bankrupt. The party’s estate is surrendered and the assets sold on auction. A… Read More »INSOLVENCY LAWYER

QUESTIONS ABOUT VOLUNTARY SEQUESTRATION IN SOUTH AFRICA Voluntary sequestration in South Africa is a legal process whereby you apply to court to be declared bankrupt. It enables you to regain control over your finances and to get rid of up to 80% of your debt in a short period. The creditors must at least receive 20 cents out of the rand and this means that you only… Read More »VOLUNTARY SEQUESTRATION IN SOUTH AFRICA

WHAT TO AVOID BEFORE AND DURING AN APPLICATION FOR VOLUNTARY SEQUESTRATION IN SOUTH AFRICA It is better to lodge a formal application for voluntary sequestration in South Africa than wait for creditors to apply for your estate’s sequestration. In the latter instance, creditors are more likely to take aggressive legal steps in order to get payment for debt owed and it may be more difficult… Read More »APPLICATION FOR VOLUNTARY SEQUESTRATION

HOW DOES VOLUNTARY SEQUESTRATION WORK IN TERMS OF ASSETS? We briefly discuss how voluntary sequestration works in terms of various assets, helping you to make an informed decision regarding your financial future. How does voluntary sequestration work in terms of immovable property? Immovable property is included in the surrendered estate. It is valued and sold on auction by a court-appointed curator. You will have sufficient… Read More »HOW DOES VOLUNTARY SEQUESTRATION WORK