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

FINDING DEBT SOLUTIONS FOR YOU Are you struggling to pay your creditors? Do you dread answering the phone because it can be an attorney or creditor demanding payment? Looking for debt solutions for you? If you have substantial debt and are unable to pay the creditors, you will need a long-term solution. A debt consolidation loan can only work if it is sufficient to cover… Read More »DEBT SOLUTIONS FOR YOU

HOW TO APPLY FOR SEQUESTRATION REHABILITATION IN SOUTH AFRICA Rehabilitation is a legal process whereby an insolvent party applies to regain control over their financial estate. It follows after sequestration. If the time period requirements, in addition to other requirements, for rehabilitation have been met, the insolvent party’s status is changed from “sequestrated” to “rehabilitated”. The “rehabilitated” status remains on the person’s ITC record for… Read More »SEQUESTRATION REHABILITATION

DEBT REHABILITATION HELP IS AVAILABLE Are you struggling to pay your debt? Do creditors harass you? Are you afraid that you will lose all your assets and still have to pay debts for years to come? You are not alone. Millions of South Africans are in financial trouble. However, debt rehabilitation help is available. Keep in mind that it is far easier to get into… Read More »DEBT REHABILITATION HELP

HOW VOLUNTARY SEQUESTRATION WORKS IN SOUTH AFRICA Working with experienced insolvency practitioners in South Africa is the first step towards becoming debt-free. Such legal practitioners know the laws pertaining to insolvency and can advise you regarding the best route to follow, also when it comes to rehabilitation after sequestration. As our experienced insolvency practitioners in South Africa will explain, it is important to understand the… Read More »EXPERIENCED INSOLVENCY PRACTITIONERS IN SOUTH AFRICA

HOW REHABILITATION TO CLEAR YOUR NAME WORKS Voluntary sequestration is the process whereby you apply to be declared insolvent. Your estate is surrendered and the assets in it sold to ensure benefit to the creditors. Once the debt has been paid, you can apply for rehabilitation to clear your name and thus to restore your status. Without rehabilitation to clear your name, you will have… Read More »REHABILITATION TO CLEAR YOUR NAME

WHAT IS DEBT REHABILITATION AND WHY SHOULD YOU CARE? Nationally, more than R350 million in debts were written off and more than 48 000 summonses were issued for debts in South Africa in June 2017. Clearly, South Africans struggle to pay their debt and, with the cost of living rising month after month, the situation is not expected to improve overnight. The solution for many of… Read More »WHAT IS DEBT REHABILITATION?

WHEN YOU SHOULD GET HELP FROM INSOLVENCY LAWYERS TO LIQUIDATE YOUR BUSINESS The single most important decision to make when your business faces financial disaster is whether to liquidate or not. Before you make the decision, get help from insolvency lawyers to determine whether your business can be rescued, whether a compromise agreement is possible with the creditors, or whether it is better to liquidate.… Read More »GET HELP FROM INSOLVENCY LAWYERS

IS VOLUNTARY SEQUESTRATION ONE OF THE VIABLE DEBT SOLUTIONS FOR SOUTH AFRICANS? Debt solutions for South Africans should be a priority as, according to the National Credit Regulator, almost 50% of active consumers are in arrears on or more of their debts. No doubt, debt is spiralling out of control and, despite the high unemployment rate, South Africans continue to take on more debt. The… Read More »DEBT SOLUTIONS FOR SOUTH AFRICANS