Learn How to Become Debt-Free Through Voluntary Sequestration Do you want to know how to become debt-free? In South Africa, the answer is often voluntary sequestration. Though you may think of sequestration as just a means to lose all your assets, the truth is that the only way to become debt-free is to pay off your debt and not to make any more debt. It… Read More »HOW TO BECOME DEBT-FREE

Are You Tired of Debt and Seek a Workable Solution? Are you struggling to make monthly payments to creditors and dread having to answer calls because you fear more harassment from the creditors? Are you tired of debt? Are you looking for a way to pay off your debt completely, without adding to your debt burden with a consolidation loan? Do you own property and… Read More »ARE YOU TIRED OF DEBT?

How Can I Overcome My Financial Problems If I Am Under Debt Review? Are you currently under debt review and have been paying your debt off monthly for a long time? Are you still struggling to make ends meet and fear that you may not be able to keep on paying the monthly consolidated amount? Do you constantly ask – “How can I overcome my… Read More »HOW CAN I OVERCOME MY FINANCIAL PROBLEMS?

Debt can become an overwhelming burden, causing sleepless nights and even strain on your family relations. Although it is certainly not easy to let go of immovable property, it may be the only way to get rid of your debt, especially if you are already behind on your mortgage payments, or have an additional loan registered against the property. If the situation sounds familiar, read… Read More »HOW TO DECLARE INSOLVENCY IN SOUTH AFRICA

How the Financial Rehabilitation Process Works The financial rehabilitation process after voluntary sequestration is automatic after a period of ten years has lapsed since the sequestration date. However, if you wish to become financially rehabilitated sooner, the process entails an official High Court application by an attorney on your behalf. In essence, the financial rehabilitation process is completed once the High Court of South Africa… Read More »FINANCIAL REHABILITATION PROCESS

How is Life After Sequestration? Life after sequestration means being debt-free, and thus being able to save your money towards the application for rehabilitation. It also means not having to be concerned about creditor harassment, debt collection agencies, and how you will be able to pay your debt. A common misconception about life after sequestration is that you are left without your vehicle and furniture.… Read More »LIFE AFTER SEQUESTRATION

You may have read about insolvency, sequestration, and financial rehabilitation on the internet. Although you may also know what sequestration is, you might not have received an answer on “what is financial rehabilitation?” We take a brief look below at what it means as related to voluntary sequestration to help answer the question. Sequestration Is Not Forever Understandably, you will not want to voluntary sequestrate… Read More »WHAT IS FINANCIAL REHABILITATION?

What is Rehabilitation after Insolvency and How Do You Benefit? Rehabilitation after insolvency gives you a fresh financial start. You will no longer have the status of insolvent or sequestrated, and you will once again have a clear ITC record. Rehabilitation after insolvency is automatic after ten years has passed since the date of your provisional sequestration. If, however, you want to rehabilitate earlier, which… Read More »REHABILITATION AFTER INSOLVENCY

THREE TYPES OF DEBT RESCUE Debt rescue can take many forms, of which one is debt review or debt counselling. Sequestration is also a form of debt rescue, as is the selling of some of your assets to pay off debt, with arrangements made with creditors to pay the remainder over a specific period. The type of debt rescue that is selected affects your credit… Read More »DEBT RESCUE

When Can You Apply for Rehabilitation After Sequestration? Debt rehabilitation after sequestration can be done after a specific period has lapsed, and is subject to certain conditions being met. Note that if you don’t apply for debt rehabilitation after sequestration, then it will take ten years before your estate will automatically be rehabilitated. If your rehabilitation application is successful, then the court will declare that… Read More »DEBT REHABILITATION