MORE INFO ON:

SEQUESTRATION / LIQUIDATION / VOLUNTARY SURRENDER

Sequestration/Liquidation is one of the most common (and in many cases)
the best or sometimes the only method to relieve 
the burden of debt.

082 873 7917

ADVANTAGES OF SEQUESTRATION / LIQUIDATION

  1. All your debts will be written off and your salary and other income will still be yours;
  2. You will be able to stay in your house for approximately 5 months or longer without having to pay the bond;
  3. You will not be required to pay any of your creditors after starting the sequestration process;
  4. Only your creditors are notified of the process, not your employer;
  5. Once you begin the sequestration process, we will deal with your creditors on your behalf so you do not have to communicate with them anymore.
  6. You will not be required to attend Court on the date of your application.
  7. Your salary cannot be attached or garnished and all existing garnishee orders must be cancelled.
  8. After publication of your Notice of Surrender, all legal action is stayed and no attachment can take place.
  9. After 12 to 48 months, you may apply to the Court for a Rehabilitation Order subject that the insolvency state has been confirmed by the master, your credit status will be declared credit worthy.

WHAT IS VOLUNTARY SEQUESTRATION /
LIQUIDATION

Sequestration / Voluntary Surrender is a court application where after a Trustee is appointed by the Master of the High Court to sell your assets and divide the proceeds between creditors. After sequestration your debt are deemed to have been written off after rehabilitation then your creditors are no longer allowed to demand payment form you as their rights now vest in the Trustee.

You will now be able to live a normal financial life, debt free. It is advisable that you own property, either immovable or movable, so that it can be realised to show benefit to creditors, however this is not a requirement.

You do not have to feel guilty about going this route as it was never your intention to incur debt and not pay your creditors.
A simple matter of fact is that life happens and you do not have control over every aspect of your life.

With the COVID-19 pandemic, millions of people and businesses were unable to bear this burnt and they went under.
There is a light at the end of the tunnel.

Don’t wait until it’s too late.