Sequestration Assessment Form - FREE SERVICE
Please complete the application form below to provide Francois Uys Attorneys with all the information necessary to efficiently determine if you the client is indeed insolvent or if another debt remedy.
SEQUESTRATION OPPOSED TO DEBT REVIEW / ADMINISTRATION
The problems faced by debtors in South Africa is not that there are no alternatives to insolvency proceedings, but that the available alternatives do not provide for a discharge of debt as the case is with a sequestration order, which is ultimately what the debtor seeks to achieve. Debtors in South Africa can make use of debt review in terms of the National Credit Act 34 of 2005 or administration orders in terms of the Magistrates' Court Act 32 of 1944 to circumvent the sequestration process. However, both debt review and administration orders do not provide for a discharge of debt and provide for debt-restructuring only, in order to eventually satisfy the creditor's claims.
- Costs of a Sequestration Application may vary from application to application, we will however, send you a formal Quote should you Qualify to apply for Sequestration;
- If the costs are to high for you to afford, you may pay it off in monthly instalments;
- If you are currently under Debt Review the High Court Order will supersede this and debts written off!
- You will never have to appear in Court personally, an Advocate will appear on your behalf;
- Once a file has been opened,we will deal with all your creditors;
- Once we proceed with your application you are on your way to a new start!;
- We will guide you through the whole process;
- You will be able to Rehabilitate from between 6 months and 4 Years after Sequestration, depending on the outcome of your Liquidation & Distribution account (Drafted and submitted by Curator of Court);
- Please ensure that the above-mentioned in formation is correct as your Court application will be signed under Oath attesting thereto;