SPECIALIST INSOLVENCY LAWYERS ON COMPLEX SEQUESTRATION ISSUES Voluntary sequestration is a legal process whereby you can apply to be declared bankrupt. Since it involves a court application, you need the help of specialist insolvency lawyers to handle the process. However, with many legal pitfalls to avoid when dealing with creditors, it is best to seek legal advice from such specialist insolvency lawyers even before you… Read More »SPECIALIST INSOLVENCY LAWYERS
BASICS OF VOLUNTARY SEQUESTRATION – INSOLVENCY ACT IN SOUTH AFRICA The sequestration act in South Africa is called the Insolvency Act No 24 of 1936. If you consider voluntary sequestration as a means to become debt free in South Africa, it is essential to become familiar with stipulations of the Insolvency Act. To this end, we recommend speaking to our insolvency attorneys who can explain… Read More »SEQUESTRATION ACT IN SOUTH AFRICA
UNDERSTANDING THE BASICS OF SEQUESTRATION AND REHABILITATION With the help of our attorneys specialising in sequestration, you can become debt free within a short period of time. Once all requirements are met, you can apply for rehabilitation and regain full control over your financial affairs. We briefly discuss some aspects related to rehabilitation, helping you to understand when you can regain control over your estate… Read More »SEQUESTRATION AND REHABILITATION
REQUIREMENTS AND PROCEDURES FOR A SEQUESTRATION APPLICATION The first step towards becoming free of debt is to determine if you meet the requirements for a sequestration application in South Africa. To this end, we briefly look at the requirements. INSOLVENCY REQUIREMENTS For a voluntary sequestration application to be successful, you must be insolvent. This means your liabilities must exceed your assets. You must be unable… Read More »SEQUESTRATION APPLICATION
HOW YOU CAN SAVE MONEY WITH SEQUESTRATION EXPERTS Debt collectors knocking at your door? Are you afraid to answer the phone because of constant creditor harassment? Have you juggled between credit cards up to now? Are your home loan repayments behind? Do not stress. Debt help is available. Indeed, you can save money with sequestration experts. Here is how: Instead of signing agreements with debt… Read More »SAVE MONEY WITH SEQUESTRATION EXPERTS
ADVANTAGES AND DISADVANTAGES OF VOLUNTARY SEQUESTRATION We want you to make an informed decision regarding the management of your debt situation and, as such, discuss the advantages of voluntary sequestration, as well as disadvantages to consider below. BENEFITS OF SEQUESTRATION IN DEALING WITH THE IMMEDIATE CREDITOR THREAT If creditors harass you day and night, you will be glad to know that once the notice of… Read More »ADVANTAGES OF VOLUNTARY SEQUESTRATION
PROCESS OF APPLYING FOR VOLUNTARY SEQUESTRATION IN SA Applying for voluntary sequestration may be the last thing on your mind, until you experience extreme financial difficulty. If such is the situation, you may want to consider filing for bankruptcy to: HOW TO PROCEED IN APPLYING FOR VOLUNTARY SEQUESTRATION First, we must determine whether you meet the requirements for voluntary sequestration. To this end, we look… Read More »APPLYING FOR VOLUNTARY SEQUESTRATION
WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY AND INSOLVENCY? Though the terms of bankruptcy and insolvency are used interchangeably, there is a distinct difference between the two. For one, a person can be insolvent without being bankrupt. However, one cannot file for bankruptcy unless insolvent. Insolvency is a financial state whereas bankruptcy is a legal state regarding your financial welfare. Let us explain it in more… Read More »BANKRUPTCY AND INSOLVENCY
DO YOU MEET THE VOLUNTARY SEQUESTRATION REQUIREMENTS? The Insolvency Act of 1936 and its amendments govern the process of voluntary surrendering one’s estate and the application to be declared bankrupt. In order to make use of voluntary sequestration as a debt-management solution, certain requirements must be met, which are briefly discussed below. LIABILITIES MUST EXCEED ASSETS The High Court of the country must be satisfied… Read More »SEQUESTRATION REQUIREMENTS
VOLUNTARY SEQUESTRATION – DEBT PROBLEMS AND SOLUTIONS IN SOUTH AFRICA A recent report by TransUnion shows that consumers struggle with debt problems in South Africa. The credit demand remains worrisome, with defaults on secured debts on the increase. This is especially true for home loans and vehicle finance. The high food prices, petrol price hikes, and related economic challenges experienced are among the reasons for… Read More »DEBT PROBLEMS AND SOLUTIONS