FAQ – COMPANY LIQUIDATION IN SOUTH AFRICA Liquidation of a company is a legal process. Therefore, you need the assistance of a corporate insolvency lawyer, to apply to court to declare your company bankrupt. The corporate insolvency lawyer handles the application on your behalf, and guides you through the process. What is Liquidation? It is the legal process whereby, upon court order, the company’s financial… Read More »CORPORATE INSOLVENCY LAWYER
WHEN CAN YOU APPLY FOR REHABILITATION AFTER INSOLVENCY? It is recommended that you apply for rehabilitation after insolvency, as soon as all the requirements for rehabilitation have been met. If you do not apply for rehabilitation after insolvency, you will remain sequestrated for a period of ten years, after which you will be automatically rehabilitated. Rehabilitation is a legal process in which you regain full… Read More »REHABILITATION AFTER INSOLVENCY
HOW TO GET OUT OF DEBT THROUGH VOLUNTARY SEQUESTRATION IN SOUTH AFRICA If you are desperate to get out of debt, and have sufficient assets, to ensure that if they are sold by a court-appointed trustee, and that it can generate adequate funds to pay at least 20 per cent to creditors with claims against your estate, then you can apply for voluntary sequestration. Understandably,… Read More »GET OUT OF DEBT
GET ANSWERS TO YOUR QUESTIONS ABOUT VOLUNTARY SEQUESTRATION IN SOUTH AFRICA We briefly look at the some of the frequently asked questions about voluntary sequestration, to help you decide whether it is a solution for your debt problem. What is Factual Insolvency? It is when your liabilities far exceed your assets. To determine whether you are factually insolvent, you need to determine for what value the… Read More »VOLUNTARY SEQUESTRATION
POSSIBLE DEBT SOLUTIONS FOR YOU If you are in debt, and are looking for possible solutions for you, then look no further. Today, we will briefly look at possible debt solutions for you, to help you gain a basic understanding of what you can do to get out of debt in South Africa. Debt Review Debt Review is perhaps the best known of the debt… Read More »DEBT SOLUTIONS FOR YOU
FAQ – COMPANY LIQUIDATION IN SOUTH AFRICA Liquidation of a company is a legal process. Therefore, you need the assistance of a corporate insolvency lawyer, to apply to court to declare your company bankrupt. The corporate insolvency lawyer handles the application on your behalf, and guides you through the process. What is Liquidation? It is the legal process whereby, upon court order, the company’s financial… Read More »CORPORATE INSOLVENCY LAWYER
WHICH PROFESSIONAL DEBT SOLUTIONS ARE AVAILABLE IN SOUTH AFRICA? Professional debt solutions in South Africa range from administration, debt consolidation, and debt review to voluntary sequestration. For the purpose of this article, we will look at voluntary sequestration as one of the professional debt solutions available in South Africa. The high inflation rate in the country, coupled with high fuel prices and an increase in… Read More »PROFESSIONAL DEBT SOLUTIONS SOUTH AFRICA
VOLUNTARY SEQUESTRATION REQUIREMENTS AND BENEFITS IN SOUTH AFRICA Voluntary sequestration is a legal process whereby an individual applies to have their financial estate surrendered and be declared bankrupt. However, even before voluntary sequestration, a debtor can try to solve their debt repayment problems. OTHER DEBT SOLUTIONS One such an option is voluntary distribution, whereby the debtor’s attorneys negotiate with creditors to have the debtor enter… Read More »VOLUNTARY SEQUESTRATION REQUIREMENTS
INSOLVENCY – ANSWERS TO THE QUESTION OF HOW LONG DOES IT TAKES Insolvency is an ideal legal method to regain financial stability and getting rid of debt. The insolvency is attained through the surrendering of one’s estate as a natural person. The assets in the estate are valued and then sold on auction. The proceeds from the sale are distributed among the creditors to ensure… Read More »INSOLVENCY – HOW LONG DOES IT TAKE?
SEEK ADVICE FROM AN INSOLVENCY PRACTITIONER BEFORE APPLYING FOR VOLUNTARY SEQUESTRATION With insolvency law in South Africa being rather complex, it is best to get legal guidance from an insolvency practitioner regarding the timeframe of voluntary sequestration, the process, benefits and disadvantages, and legal implications of insolvency. We briefly look at some aspects of voluntary sequestration, giving you an idea of why it is important… Read More »INSOLVENCY PRACTITIONER SOUTH AFRICA