AVOID DEBT MANAGEMENT MISTAKES BY MAKING USE OF OUR INSOLVENCY LAWYER SERVICES Rather than trying to negotiate with creditors for lower instalments or committing an act of insolvency without knowing it, make use of our insolvency lawyer services. It is certainly better to be in the control seat by applying for voluntary sequestration rather than being forced to sequestrate because you make a mistake in… Read More »INSOLVENCY LAWYER SERVICES
HOW DOES DEBT RESCUE WORK IN TERMS OF A BUSINESS? The phrase, debt rescue, has become so widely used in South Africa that it is almost obscure in meaning. Some use the words debt rescue when they refer to business rescue, whilst others use such to refer to debt review. Yet, others use it to refer to voluntary sequestration. For the purpose of this article,… Read More »HOW DOES DEBT RESCUE WORK
WHEN IS IT TIME FOR A BUSINESS TO ENTER THE DEBT RESCUE PROCESS? Many businesses hit a roadblock or some type of hindrance, and because of it, face cash-flow problems. These businesses practically become financially distressed, unable to pay creditors and salaries. If they continue on the path, these companies are likely to become insolvent within six months. In such instances, the directors or any… Read More »DEBT RESCUE PROCESS
WHAT YOU NEED TO KNOW ABOUT THE VOLUNTARY SEQUESTRATION PROCESS IN SOUTH AFRICA The voluntary sequestration process in South Africa enables a natural person to become debt free in a relatively short period. Instead of having to pay excessive interest on debt, high administration costs, and the debt over many years after an arrangement with debt collectors, you can become debt free within months. HOW… Read More »SEQUESTRATION PROCESS IN SOUTH AFRICA
IS SEQUESTRATION A GOOD IDEA IF YOU HAVE PROPERTY AND WANT TO BECOME DEBT FREE? You may have heard people ask whether sequestration is a good idea before, and may have read people’s comments on social media about the process. However, you need to look at the facts rather than listen to hearsay. We thus briefly answer the question of “Is sequestration a good idea?”… Read More »IS SEQUESTRATION A GOOD IDEA?
WHAT IS AN ACT OF INSOLVENCY? HOW DOES IT AFFECT YOUR FINANCIAL STATUS? If you are in financial trouble, it is essential to seek an answer on the question of “what is an act of insolvency?” Failure to understand what is seen as an act of insolvency can cause you to commit such an act without even realising it, giving a creditor the right to… Read More »WHAT IS AN ACT OF INSOLVENCY?
WHAT CAUSES INSOLVENCY? AVOID THESE COMMON BUSINESS MANAGEMENT MISTAKES What causes insolvency? It is a more complex question than meets the eye. In South Africa, a business is insolvent when its liabilities exceed its assets and the business is unable to service its debts. According to law, a business must seize trading if it is insolvent, as to protect creditors. However, understanding what causes insolvency… Read More »WHAT CAUSES INSOLVENCY?
WHAT IS DEBT RESCUE? IS IT APPLICABLE TO A BUSINESS? A company’s financial affairs can quickly turn into nightmares for the directors and shareholders. It is at this stage when directors ask the question: “What is debt rescue?” They wonder whether debt rescue can be applied to businesses. Understanding what is debt rescue in terms of businesses is important if your firm is in financial… Read More »WHAT IS DEBT RESCUE?
HOW DEBT RESCUE PLANS FOR DISTRESSED COMPANIES CAN BE WORKABLE ALTERNATIVES TO LIQUIDATIONS Many companies in South Africa have undergone debt rescue procedures. Keep in mind that debt review as a debt rescue means is only suitable for natural persons. As such, companies have to look at other options for debt rescue. DIRECTORS HAVE NO CHOICE BUT TO TAKE ACTION Indeed, where a firm is… Read More »DEBT RESCUE COMPANIES
GET OUT OF DEBT TIPS TO HELP YOU REGAIN FINANCIAL CONTROL Rising living costs, medical emergencies, and fuel price increases are among the reasons you may have fallen into a debt trap. Regardless of the reason for your financial situation, you can get out of debt by following the tips to get out of debt below. GET OUT OF DEBT TIPS – HOW TO GET… Read More »GET OUT OF DEBT TIPS