PRELIMINARY FORMALITIES TO MEET WITH THE APPLICATION FOR INSOLVENCY An application for insolvency entails a legal process whereby the debtor applies to Court to have their estate surrendered and to be declared bankrupt. It is called voluntary sequestration. An application for insolvency can only be successful if the formalities are also met. In addition, the applicant must, indeed, be cash-flow and capital insolvent. This means… Read More »APPLICATION FOR INSOLVENCY
IMPORTANT ASPECTS OF VOLUNTARY SEQUESTRATION Voluntary sequestration provides you with the opportunity to get rid of up to 80% of your debt within a short period. It entails an application to court to have your financial estate surrendered and to be declared bankrupt. The estate is surrendered to the benefit of the creditors. The court only accepts the voluntary surrendering of your estate if you… Read More »VOLUNTARY SEQUESTRATION
POSITIVE INSOLVENCY IMPLICATIONS TO CONSIDER Though much has been said about the negative implications of insolvency, one also has to consider how insolvency can help a debtor to become free from the stress of financial troubles. INSOLVENCY IMPLICATIONS FOR THE INDIVIDUAL Voluntary sequestration provides for a means to get rid of up to 80% of your debt. It is not without a price. Your assets… Read More »INSOLVENCY IMPLICATIONS
AFFORDABLE SEQUESTRATION LAWYERS: DEALING WITH THE COST OF DEBT The first step towards becoming completely debt-free is to seek the legal guidance from our affordable sequestration lawyers. Yes, the voluntary surrendering of your estate can be expensive if you do not look out for the pitfalls, but it can also be an exceptionally affordable means for dealing with mountains of debt. HOW DO YOU PAY… Read More »AFFORDABLE SEQUESTRATION LAWYERS
WHEN TO CONSIDER VOLUNTARY SEQUESTRATION IN SOUTH AFRICA Sequestration in South Africa is certainly not the first choice when it comes to addressing the debt burden, but if you have already reached the point where even normal debt restructuring and debt review are no longer valid options, then it is time to get rid of the debt once and for all. Debt has a way… Read More »SEQUESTRATION IN SOUTH AFRICA
IN DEBT? FIND OUT HOW TO DECLARE INSOLVENCY IN SOUTH AFRICA Donald Trump is the USA President and he has filed for bankruptcy no fewer than four times. It thus may seem like an easy way out of debt, but as with any other debt solution, several pitfalls await. It is thus best to discuss the issue of how to declare insolvency in South Africa… Read More »HOW TO DECLARE INSOLVENCY IN SOUTH AFRICA
“WHEN DOES SEQUESTRATION GO INTO EFFECT?” AND RELATED QUESTIONS If you struggle to pay your debts and living costs, whilst the debts are far too big to pay off through debt review within five years, you can apply for voluntary sequestration. To help you make an informed decision on whether or not to voluntary sequestrate, let us look at the answers to questions, such as… Read More »WHEN DOES SEQUESTRATION GO INTO EFFECT
HOW SEQUESTRATION WITHOUT ASSETS WORKS Sequestration without assets is possible if the legal fees, estate administration, and minimum benefits requirement can be met. It still requires a legal application process. Keep in mind that voluntary sequestration – with or without assets – is a process that has been instituted specifically to help individuals in South Africa, who are no longer able to pay debts due… Read More »SEQUESTRATION WITHOUT ASSETS
ANSWER TO THE QUESTION: “IS INSOLVENCY AND BANKRUPTCY THE SAME THING?” People use the terms insolvency and bankruptcy interchangeably to refer to a state of financial distress. However, before using bankruptcy as a synonym for the term insolvency, one has to ask: “Is insolvency and bankruptcy the same thing?” We provide an answer to the question and clarify other issues as well, helping you to… Read More »IS INSOLVENCY AND BANKRUPTCY THE SAME THING?
MEANING OF SEQUESTRATION TERMS AND CONDITIONS EXPLAINED We briefly answer questions about sequestration, meaning of it and more below to help you gain a better understanding of bankruptcy proceedings in South Africa. WHAT IS THE MEANING OF VOLUNTARY SEQUESTRATION? It is a legal process whereby an insolvent natural person applies to be declared bankrupt. Certain requirements must be met before the High Court or a… Read More »SEQUESTRATION MEANING