Life can become so overwhelming and so stressful that it is hard to know where to start. You spend your days juggling a million tasks and responsibilities. Things never seem to get done, and liabilities keep piling up. This is when you ask: “What are the advantages of filing for bankruptcy?” It is a solid start. Without you facing the problem, there cannot be a… Read More »WHAT ARE THE ADVANTAGES OF FILING FOR BANKRUPTCY?
Understanding bankruptcy in South Africa is now more important than ever. Although people cautiously become optimistic, the economic outlook is far from rosy. This also means a higher risk of having to apply for bankruptcy as an individual or as a company. With a drop to 132 companies filing for or having being declared bankrupt in June 2021, from 191 in May of 2021, as… Read More »UNDERSTANDING BANKRUPTCY IN SOUTH AFRICA: LIQUIDATION AND SEQUESTRATION
The stress of managing credit can be a constant weight on your shoulders, and the thought of becoming debt-free might seem impossible. Seeking solutions with consolidation loans in 2021 may at first seem to be the answer, but not using the selected loan to pay off every account can lead to more financial trouble. Out of control credit can destroy your finances and put your… Read More »WHICH DEBT SOLUTIONS STILL WORK IN 2021?
How does bankruptcy work exactly? Bankruptcy works by giving those who are in debt the opportunity to get back on their feet and start over by wiping out their debt. The process is also a last resort if there are no other options for dealing with one’s debts. HOW DOES BANKRUPTCY WORK? Involuntary bankruptcy is when a creditor applies to court for the insolvent debtor… Read More »SEQUESTRATION BASICS: HOW DOES BANKRUPTCY WORK?
Creditors threaten to take your assets. You owe SARS thousands. All accounts are in arrears. Sounds familiar? Are you looking for debt solutions? Read on to discover how voluntary sequestration can help. WHAT IS VOLUNTARY SEQUESTRATION? Although not one of the first debt solutions to come to mind, it is one solution that helps you to get rid of all debt. It is a legal process whereby… Read More »LOOKING FOR DEBT SOLUTIONS? VOLUNTARY SEQUESTRATION CAN HELP
WHAT IS THE STATE OF INSOLVENCY IN SOUTH AFRICA? HOW DEBTORS GET HELP The year 2020 took its toll on consumers as proven by the sharp increase in household debt to income ratio from 72,8% (2019) to 77,1% (2020). With the 2021 lockdown regulations also not kind to the economy, the potential level of insolvency in South Africa is worrisome. The figures from the TransUnion Q1 report are indicative… Read More »INSOLVENCY IN SOUTH AFRICA
Do creditors harass you daily? Do not despair. We have insolvency lawyers that can help you to become debt free in South Africa. Read on as we explain the solution to your debt nightmare and how to stop creditors from calling. WHAT IS THE SOLUTION? Even if creditors have threatened with judgments, you can still stop them in their tracks. How? With the help of insolvency… Read More »INSOLVENCY LAWYERS THAT CAN HELP YOU BECOME DEBT-FREE
Fear of the unknown keeps you trapped in debt. Take the first step towards a debt-free life. Read on to gain a better understanding of sequestration in South Africa. WHAT IS VOLUNTARY SEQUESTRATION? It is a legal process whereby you apply to surrender your financial estate. The court awards the status of bankrupt and appoints a trustee/curator to oversee the sale of your assets. This… Read More »GET A BETTER UNDERSTANDING OF SEQUESTRATION IN SOUTH AFRICA
THE VOLUNTARY LIQUIDATION OF A COMPANY: 9 FACTS YOU SHOULD KNOW You did not start your business with the aim to close it, but now you may face mounting debts, income limits, and trade restrictions. If the situation is so dire that business rescue is not an option, you can go with the voluntary liquidation of a company option. Before you do, make sure you understand what… Read More »VOLUNTARY LIQUIDATION OF A COMPANY
Bills are not yet piling up, but you have used the maximum allowable credit on your store accounts, personal loans, and credit cards. You are one month away from not being able to pay bills. Is it time to get help with debt rehabilitation? The sooner you seek financial guidance, the quicker you can regain financial control. You may still qualify for a consolidation loan… Read More »GET HELP WITH DEBT REHABILITATION: WHICH OPTION IS BEST?