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HOW VOLUNTARY SEQUESTRATION WORKS IN SOUTH AFRICA Working with experienced insolvency practitioners in South Africa is the first step towards becoming debt-free. Such legal practitioners know the laws pertaining to insolvency and can advise you regarding the best route to follow, also when it comes to rehabilitation after sequestration. As our experienced insolvency practitioners in South Africa will explain, it is important to understand the… Read More »EXPERIENCED INSOLVENCY PRACTITIONERS IN SOUTH AFRICA

HOW REHABILITATION TO CLEAR YOUR NAME WORKS Voluntary sequestration is the process whereby you apply to be declared insolvent. Your estate is surrendered and the assets in it sold to ensure benefit to the creditors. Once the debt has been paid, you can apply for rehabilitation to clear your name and thus to restore your status. Without rehabilitation to clear your name, you will have… Read More »REHABILITATION TO CLEAR YOUR NAME

WHAT IS DEBT REHABILITATION AND WHY SHOULD YOU CARE? Nationally, more than R350 million in debts were written off and more than 48 000 summonses were issued for debts in South Africa in June 2017. Clearly, South Africans struggle to pay their debt and, with the cost of living rising month after month, the situation is not expected to improve overnight. The solution for many of… Read More »WHAT IS DEBT REHABILITATION?

WHEN YOU SHOULD GET HELP FROM INSOLVENCY LAWYERS TO LIQUIDATE YOUR BUSINESS The single most important decision to make when your business faces financial disaster is whether to liquidate or not. Before you make the decision, get help from insolvency lawyers to determine whether your business can be rescued, whether a compromise agreement is possible with the creditors, or whether it is better to liquidate.… Read More »GET HELP FROM INSOLVENCY LAWYERS

IS VOLUNTARY SEQUESTRATION ONE OF THE VIABLE DEBT SOLUTIONS FOR SOUTH AFRICANS? Debt solutions for South Africans should be a priority as, according to the National Credit Regulator, almost 50% of active consumers are in arrears on or more of their debts. No doubt, debt is spiralling out of control and, despite the high unemployment rate, South Africans continue to take on more debt. The… Read More »DEBT SOLUTIONS FOR SOUTH AFRICANS

ARE THERE DEBT SOLUTIONS THAT WORK? In September 2017, there were more than 24 million consumers in the country making use of credit. The shocking part is that there are 8 million more credit consumers than people employed in the country. This means that an enormous number of consumers have credit, but not employment. The debt level in the country is something to be concerned… Read More »DEBT SOLUTIONS THAT WORK

IS IT POSSIBLE TO BECOME DEBT-FREE IN 2018? If you can no longer afford to pay your credit cards, store accounts, personal loans, home mortgage, and vehicle finance, there is still hope. You can become debt-free in 2018, even if you are already under debt review. The solution is voluntary sequestration. It is a legal process whereby you apply to the High Court of South Africa to… Read More »BECOME DEBT-FREE IN 2018

VOLUNTARY SEQUESTRATION AS ONE OF THE BEST DEBT REHABILITATION SOLUTIONS If you are looking for debt rehabilitation solutions, consider voluntary sequestration. Once your intention to sequestrate has been published in the required publications, you are protected against further legal actions from creditors. We briefly discuss various aspects of voluntary sequestration as one of the debt rehabilitation solutions available in South Africa, to help you make… Read More »DEBT REHABILITATION SOLUTIONS

WHEN TO LIQUIDATE YOUR COMPANY IN SOUTH AFRICA Liquidation may not necessarily be your first choice when it comes to dealing with business debt, but it may be the only viable option left if the creditors are not willing to enter into a compromise agreement. However, it is best to work with experienced insolvency practitioners, should you decide on liquidation. If your business is in… Read More »EXPERIENCED INSOLVENCY PRACTITIONERS

HOW SURRENDERING OF ESTATE WITH AND WITHOUT PROPERTY WORKS For the surrendering of estate with the purpose of being declared bankrupt, you need to prove that you are indeed insolvent. To satisfy the court, you need to show that your liabilities far exceed your assets and that you are unable to pay back creditors. If you meet the requirements, the court will allow the surrendering… Read More »SURRENDERING OF ESTATE