ARE YOU UNABLE TO PAY DEBTS OWED? If you have answered yes to the question of “are you unable to pay debts owed?” it is time to consider voluntary sequestration as a solution. What you should avoid is communicating your situation in writing to creditors. Indeed, it is an act of insolvency to admit that you are unable to pay debts owed or to attempt… Read More »UNABLE TO PAY DEBTS OWED?
WE SPECIALISE IN INSOLVENCY LAW AND CAN HELP YOU BECOME DEBT-FREE Understanding what to do and what to sidestep when you struggle with debt is essential to avoid losing everything in the process and still be liable for paying the debt. We specialise in insolvency law, and can thus help you determine the best course of action to address your debt problems. Indeed, many people… Read More »WE SPECIALISE IN INSOLVENCY LAW
ANSWER TO THE QUESTION: “WHAT IS SEQUESTRATION ORDER?” Understanding insolvency and how it affects your financial position is important in deciding a course of action to take in addressing your debt problems. You may have contemplated various debt solutions, including how to declare bankruptcy in South Africa. To this end, we briefly answer the question of “what is sequestration order?” and related questions below to… Read More »WHAT IS SEQUESTRATION ORDER?
LAW OF INSOLVENCY REGARDING NOTICES TO CREDITORS IN SOUTH AFRICA According to the law of insolvency, a debtor’s estate can be sequestrated by means of voluntary surrender or when one or more creditors apply to court for the compulsory sequestration of the debtor’s estate. VOLUNTARY SEQUESTRATION For the purpose of this article, we look at voluntary surrendering one’s estate according to the law of insolvency… Read More »LAW OF INSOLVENCY
ANSWERS ON YOUR QUESTION OF HOW LONG DOES A SEQUESTRATION LAST? Before voluntary surrendering your estate, you most probably want an answer to your question of how long does a sequestration last? The answer depends on various factors, and we thus briefly look at the circumstances that determine when you can apply for rehabilitation. HOW LONG DOES A SEQUESTRATION LAST IF YOU DO NOT APPLY… Read More »HOW LONG DOES A SEQUESTRATION LAST?
Business debt rescue is a legal process with the purpose of saving a business in financial distress. Temporary management and supervision of the business are in place to put the business back on track and lead it back to a solvent state. If one thus looks at the question of how debt rescue works in terms of a business, then it is about the prevention… Read More »HOW DOES BUSINESS DEBT RESCUE WORK?
Is your company struggling to pay its debts? Does the firm struggle with immediate cash-flow problems? Is it likely that if the debt is temporary stayed and the company restructured that it would be able to operate in a solvent state within six months from the date? Is it in need of debt rescue? If you have answered yes to any of the questions, your… Read More »BUSINESS FAILING? IN NEED OF DEBT RESCUE?
SEQUESTRATION SPECIALISTS — ANSWERS REGARDING INSOLVENCY IN SOUTH AFRICA Voluntary sequestration is often seen as a last resort when it comes to debt management, simply because people do not understand the proceedings, benefits, and implications. Rather than relying on hearsay, we recommend seeking legal guidance from specialists to determine if voluntary sequestration is a workable solution for your debt problems in South Africa. Below are… Read More »SEQUESTRATION SPECIALISTS — ANSWERS REGARDING INSOLVENCY
South African insolvency law makes provision for the voluntary sequestration of an individual. The individual’s attorneys apply to the High Court on behalf of the applicant to declare the individual bankrupt. The individual’s estate is surrendered to the Master of the High Court, who appoints a trustee to take over control of the surrendered estate. The trustee must oversee the sale of assets and distribution… Read More »SOUTH AFRICAN INSOLVENCY LAW ON SPECIFIC ISSUES OF VOLUNTARY SEQUESTRATION
It is essential to seek legal guidance should you want debt relief through voluntary sequestration. To this end, some questions about insolvency in South Africa are briefly answered below, helping you to make an informed decision about debt management. WHAT WILL HAPPEN TO MY MONTHLY UTILITY ACCOUNT WHEN I SEEK DEBT RELIEF THROUGH VOLUNTARY SEQUESTRATION? It is a service account, and as long as you… Read More »ANSWERS ON QUESTIONS ABOUT DEBT RELIEF THROUGH VOLUNTARY SEQUESTRATION