Is Sequestration the solution to your debt nightmare?
Is your debt getting out of hand?
You’re in a financial pit beyond your control. It could have happened to anyone. You may feel trapped right now. It’s normal to feel anxious. However, there is a way out: sequestration.
What is sequestration?
Sequestration: a legal term for the declaration of bankruptcy by a trust, business or individual. You or your business will be declared legally insolvent.
There’s no maximum amount of debt for your application.
This process will take the business of managing your overwhelming debt out of your hands; leaving you debt-free at the end. You’ll also save up to 75% of your debt in the process.
After this point no further debt can be made. You will be free to get your financial life back on track.
This process will be done confidentially. You don’t have to worry about your employers being informed, and you cannot be discharged from your work for undergoing sequestration.
How does sequestration work?
Your sequestration will be brought before the High Court of South Africa. However, you will not have to appear in court personally.
Once approved, your insolvency will be declared to all of your creditors. They will then be dealt with by the professional who is handling your sequestration, and the attorney who is assigned to the case. This means that your creditors will no longer be legally allowed to pester you, and you’ll be able to answer unknown numbers on your phone in peace.
Who is involved in the process?
A curator will be assigned to your estate by the court. This curator will be responsible for distributing your surrendered assets between your creditors. If you own a house,it will be sold by the curator.
The court order must be accepted by all creditors. You will not have to speak to any of them again if you don’t want to. All of your payments will be made directly to the curator.
Let us help you
If sequestration seems like an ideal solution for your situation, then please take a look at the Services section of our website. You will find detailed information about the sequestration process, and insights into how Loanro Insolvencies can help you.
If you’re stuck in the debt trap, don’t despair. There are solutions for you and we can help you find them.