Voluntary Sequestration South Africa
If you have maybe ever wondered why someone would furthermore voluntarily sequestrate themselves, you have probably never really experienced financial difficulties.The process of Voluntary Sequestration South Africa is a fairly simple process. The debtor brings an application for voluntary sequestration in a South African High Court. This is done with the assistance of both advocate and in addition an attorney.
As previously mentioned one maybe typically only start thinking about voluntary sequestration when it seems like you have ran out of other ideas of how to halt your rapidly decaying financial situation.
What our clients say
“Great experience with you guys. At first we were reluctant to call but your compassion for our personal situation made it easier to open up”
“Baie dankie vir julle vriendelike hulp en aanhoudende bystand. Met julle hulp is ons huis nie op n veiling verkoop nie”
“In 201 your company helped me out when I was in bad debt. In 2017 you did my rehabilitation and I am now debt free and clean on ITC”
“Skuld is afgeskryf en ons kan oorbegin. Dankie dat julle atyd daar was as ons n vraag gehad het”
“I was not a client when I did my sequestration but the way you handled my rehabilitation application is a step above the rest”
Some more testimonials
“After talking to a few insolvency practitioners, you were the first company that made us feel unique and not just another client”
“Rehabilitasie aansoek begin en vinnig klaargemaak. Dankie vir julle puik diens”
“My company liquidation was handled fast and efficient with no hiccups. I also protected my personal assets with your help”
“I was paying my house that was sold on auction until you wrote off my debt”
“Perfect, passionate and fast. great advice for free. I did not do my application immediately and did not get pay a cent for advice”
As previously mentioned one maybe furthermore typically only start thinking about Voluntary Sequestration South Africa when you as a result have run out of other ideas of how to halt your rapidly decaying financial situation.
What debtors maybe should as a result in addition remember however is that the processes of Voluntary Sequestration South Africa entails that you:
Have as a result enough equity in your estate to therefore provide a minimum benefit for your creditors. This benefit has been consequently established by law to be no less than 20c on each rand. That furthermore means if you owe a creditor a R100 you would need to repay him at the very least R20 thereof.
Furthermore, the National Credit Act in addition with the Insolvency Act of 1936 has as a result determined furthermore the exact process to be followed for Voluntary Sequestration South Africa. South Africa, as every country and in many instances states has their own legislation around this aspect as this specific debt remedy could have severe negative impact on the economy of a country or state.
For this reason the South African High Courts still maybe take a lot of steps to as a result ensure that the debt remedy of voluntary sequestration or better known as the voluntary surrender of your estate to the High Courts of South Africa is only used in the instances where no other available debt remedy could be or have been successful in restoring a debtor’s financial calamity.
Let us help you with Voluntary Sequestration
Insolsure as a result can therefore assure you of professional service throughout the entire process of Voluntary Sequestration South Africa. We have been most noteworthy the chosen insolvency practitioner in South Africa since 1999. We in addition look forward to building our reputation as the leading insolvency specialist in the industry throughout South Africa.