Sequestration

Sequestration / Surrendering of your estate enables you to Live a Normal Financial Life, where you are not plagued by Arrear Debts with high interest rates. The Sheriff may no longer hassle you!

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Company Liquidation

Regain total financial stability! Liquidation is a process whereby the company and its affairs are placed under control of a liquidator, who must realise the assets and divide them amongst the creditors fairly as stipulated in the Companies Act.

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Debt Review vs Sequestration

Debt counsellors can restructure your credit agreements by negotiating lower monthly repayments over longer periods. With sequestration all your debts are written off, but you need to go through a 4 year rehabilitation process before being able to apply for any credit.

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Clear Your Debt Today!

The sequestration process, is a process whereby all your debts are written off. Adjust your lifestyle to be in line with your total available budget. Regain normality in your life, without having to worry about legal actions and creditors phoning you day and night. Break free from your debt with voluntary sequestration!

What is Voluntary Sequestration?

1. As soon as we receive the instruction to proceed with the sequestration process, an advert of intention will be published in the Government Gazette, and all legal action against you will be suspended with immediate effect (even a pending auction on your property will be stopped).

2. An ability statement must be drafted and signed before commissioner of oaths.

3. A registered letter is sent to your creditors informing them of your intention to surrender your estate.

4. Our Advocate will represent you in Court on the day of the hearing.

5. After the Court Order has been granted, a Curator will be appointed by the Master to handle all the financial affairs of the estate. This can take up to 8 months or more, and you will be able to stay in your house until then, without having to pay. At this stage a family member or friend can make an offer to purchase the house from the curator.

6. You will not lose your furniture or household belongings.

7. You can start building a new estate immediately.

8. You can apply for rehabilitation after 18 months to 4 years.