Sequestration Process

Consulting Process

We are a team that fully understands the current debt situation you are in.  What’s more, we have made sure that it is a step that you can afford to take by making it easily affordable.

Step 1

We ask a few questions to see if you would qualify for Sequestration.

Step 2

If this is an option, then we will send you Assessment form to complete. This will give us more information on your debt situation. Now we can start to discuss costs and affordability.

Step 3

An attorney will provide the costs for the Sequestration and a repayment period.  This could be 12 to 18 months.

Step 4

We prefer to meet our clients and would love to meet you.  We have offices in Centurion and set up an hour meeting with you, if you are willing to travel to Centurion.  If a meeting at our office is not possible then we will set up a telephone call or an online platform. During this meeting, Ursula will explain the legal process for your individual situation and the payment plan that we can help you with.

Step 5

When you decide that this is the process you want to follow, my team and I will be with you from start to finish.

Legal Process

  • You stop paying all debts and Debt Counselling immediately.
  • Then refer all creditors to our office.
  • We guide you through the application process and keep you updated on the attorney’s progress.
  • You do not appear in court, at any time, during the process.
  • If you have a bank-financed vehicle, you will still be able to drive the vehicle for at least the medium term before it will be sold/auctioned by the Trustee.
  • If you have a bond/property, you will still be able to live on the property for at least the medium term before it is sold/auctioned by the Trustee.
  • After about three months from the court date, a Trustee will be appointed by the Master of the court. In about 6 months’ time, on average, the realization of assets will start.
  • Once this process is completed, we will advise you when you can apply for Rehabilitation.

Sequestration Rehabilitation

We can attend to your Sequestration Rehabilitation if you have been under Sequestration for at least 2 (two) to 4 (four) years.

Rehabilitation is the process whereby somebody who has been sequestrated is relieved of the legal implications of being insolvent and put back into a legal position of someone who is not an insolvent.

As soon as a person rehabilitates, the adverse credit information (pertaining to debt incurred before Sequestration) is to be removed from the Credit Bureau, according to the National Credit Act. It will only be indicated for the next 5 years that a notice of your Sequestration Rehabilitation was received.

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