Ursula Gouws Consulting
We can assist anywhere in South Africa
We are a team that fully understands the situation you are in.
We can assist you with your personal sequestration or business liquidation
so that you can become debt free and live your life again.
We make the process easy and you have the reassurance of us being
with you every step of the way.
What’s more, we have made sure that it is a step that you can afford to make
by making it easily affordable.
Have a chat to us, no matter your situation, before deciding if Sequestration
Liquidation is for you or not.
Insolvency: Sequestration vs. Liquidation
If you are an individual and want to declare yourself insolvent, you need to file for sequestration.
If you are applying for insolvency on behalf of a company or business, you will file for liquidation.
Why declare yourself insolvent?
Sequestration (Personal Insolvency)
If you do not have a business, but cannot pay your debts in your capacity as an individual, you can apply for voluntary sequestration. In instances where you have a large amount of debt, which is going to take more than 5 years (excluding your home loan) to pay back, then sequestration may be a better option than debt review or debt management.
Liquidation (Business Insolvency)
When a business fails and is unable to pay its debts, it is usually placed in liquidation. In this case, a liquidator will take charge of the estate, and all of the business’ assets are sold by way of public auction. In many instances, these auctions do not generate enough cash to pay back the debts and, consequently, the credit providers will then look to the personal sureties (usually the directors or members of the business) to pay the remainder of the outstanding debt. If the directors or members cannot settle the outstanding debts, they have the option to include these debts under debt review or apply for sequestration in their personal capacity.
Coaching – Helping you through the process
Sequestration or Liquidation is a specific life event that has a long-lasting effect in your life. Each person has a different experience and most people will navigate their way through the feelings of failure and shame. Learn coping skills and slowly heal from the experience. This can be a process that takes years for some people.
We at Ursula Gouws Consulting offer specific coaching to help you move through the emotional process quicker and start the financial future that you have worked so hard for. Ursula is a trained Life and Business Coach that has personally been sequestrated twice. Therefore there is no judgment or lack of understanding when you talk about your experience.
Coaching sessions are only as long as you need, with a follow up to complete the process.