INSOLVENCY – UNABLE TO PAY YOUR DEBT? WHAT ARE THE OPTIONS? Facing insolvency? If debt is spiralling out of control, what can you do? Apart from entering debt review or getting a debt consolidation loan, you may not have many choices. Debt review can also exacerbate the situation, especially if your spouse loses their income during your debt review period. Voluntary sequestration may not be the first… Read More »INSOLVENCY
NEED HELP WITH INSOLVENCY? GET ANSWERS FROM EXPERIENCED LAWYERS Need help with insolvency? Do creditors knock and threaten with compulsory sequestration? Do you want to take the first step towards becoming debt-free, but do not know if it is the right decision? Get answers on the less frequently asked questions surrounding insolvencies in South Africa. WHAT IS THE DIFFERENCE BETWEEN SEQUESTRATION AND ADMINISTRATION? Sequestration is… Read More »NEED HELP WITH INSOLVENCY?
EXPERIENCED INSOLVENCY PRACTITIONERS IN SOUTH AFRICA TO THE RESCUE Nothing can be scarier than having to face compulsory sequestration proceedings against you for debt. To this end, your first recourse is to seek legal help from experienced insolvency practitioners in South Africa. Also, if you find that your debt is spiralling out of control, do not wait for judgments against you or for creditors to apply for… Read More »INSOLVENCY PRACTITIONERS IN SOUTH AFRICA
SEQUESTRATION MEANING: WHAT YOU NEED TO KNOW TO BECOME DEBT-FREE If you look up “sequestration meaning” in an online dictionary, you will notice that in international law, it means the confiscation of someone’s property. As harsh as the truth may sound, giving up your assets to become debt-free might save you from years of debt and financial suffering. HOW IS IT POSSIBLE? Voluntary sequestration entails a… Read More »SEQUESTRATION MEANING
GET FINANCIAL ADVICE FROM INSOLVENCY PRACTITIONERS BEFORE YOU TAKE STEPS If you are in financial trouble, the first thing that may come to mind is to write to one or more creditors to explain the situation. Before you do so, get financial advice from insolvency practitioners. This is also true for entering into a debt counselling programme. Even before you sell off one or more assets… Read More »FINANCIAL ADVICE FROM INSOLVENCY PRACTITIONERS
WHAT IS VOLUNTARY LIQUIDATION? HOW DOES IT AFFECT A SOLVENT COMPANY? According to the information from Stats SA, a significant increase in compulsory and voluntary liquidations have been reported for the last six months of 2020. The lockdown regulations have made it difficult for businesses to pay creditors. In light of the recent ban on alcohol sales and beach closures, more businesses can be expected… Read More »WHAT IS VOLUNTARY LIQUIDATION?
GET HELP: ANSWERS ON QUESTIONS ABOUT SEQUESTRATIONS AND REHABILITATION PROCESSES We can expect to see even more applications for compulsory and voluntary sequestrations with the return to limits on operating hours, strict curfews, a ban on the sale of alcohol, limiting the number of people that can gather, and the closure of beaches, as announced recently. Thousands of people in South Africa have already lost… Read More »SEQUESTRATIONS
IS YOUR COMPANY INSOLVENT? IS LIQUIDATION THE IMMEDIATE NEXT STEP? Understanding the process of liquidation can help you to take the necessary steps to minimise the effects on your employees. It can also help you to determine whether it is the appropriate route to follow. First, you need to determine if your firm is insolvent and if alternatives to liquidation are relevant to your situation.… Read More »LIQUIDATION
THE NEGATIVE EFFECTS OF SEQUESTRATION: CLEARING UP CONFUSION As with every solution to debt problems, there is a positive and a negative side to sequestration. For you to make an informed decision on whether or not sequestration is the most appropriate solution for your debt problems, it is imperative that you also consider the negative effects. Distinguishing between a fact and myth is also crucial.… Read More »NEGATIVE EFFECTS OF SEQUESTRATION
INSOLVENCY PRACTITIONERS: WHAT YOU NEED TO KNOW ABOUT BUSINESS RESCUE IN SOUTH AFRICA As insolvency practitioners in South Africa, we work with sequestrations of individuals, liquidations of companies, and business rescue operations. It is the latter upon which we focus in this article to help you decide whether or not to apply for business rescue/administration, enter into a compromise with creditors with the help of… Read More »INSOLVENCY PRACTITIONERS IN SOUTH AFRICA