Insolvency and Sequestration By Leading Insolvency Attorneys Loxton
Insolsure Insolvency Attorneys Loxton, assisting consumers with Insolvency and Sequestration:
Take control of your debt today. Let Insolsure assist you to get back on track
- Free advice on the process of Insolvency and sequestration
- Liquidation applications therefore making your decision easier
- Write off the shortfall if your house was sold on execution.
- Rehabilitation applications if you have been sequestrated
- Prevent and avoid any further legal action, judgement and execution sales
- Take control of your financial situation and start over, debt free
If you are considering insolvency and sequestration, please contact us first.
Voluntary Insolvency and Sequestration Process
- Voluntary Insolvency and Sequestration is an application that is done to the High Court. Insolvency and Sequestration will surrender your estate to all your creditors. Your insolvency estate now vest in the hands of the Master of the High Court.
- You are declared insolvent by the court. This is also known as bankruptcy.
- All legal action as well as employer deductions (garnishee orders cancelled immediately.
- Stop trying to explain your financial situation to creditors.
- The Master of the high Court will then appoint a Trustee. Also called a Liquidator or an Insolvency Practitioner.
- The main function of the Trustee will be meetings with all your creditors. They will validate and quantify claims against your estate and to liquidate (make assets cash) to distribute among those creditors
- If your application has been in good standing, application for rehabilitation from sequestration can begin
Insolvency will take control of your debt. You will also write off up to 80% of your debt. Application for insolvency even if you don’t own a house.
If you live in Loxton and need more information on the process of insolvency, sequestration, liquidation or rehabilitation, please contact us today! Free insolvency advice
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