The voluntary sequestration process is the surest way of solving your financial problems permanently.
When people with financial problems look for possible ways to get debt relief, they often think about debt counselling, debt review or even debt consolidation (using debt consolidation loans). But potential debt solutions are not limited to these options. There is another option - the voluntary sequestration process.
It is the most reliable process for an individual to write off debt permanently. As a result, sequestration in general is a lot more common than what people think. On an average between 200 and 300 ordinary people like you and me get sequestrated every month in South Africa (Source: Statistics South Africa. February 2013).
Specific circumstances where you may consider the voluntary sequestration process include:
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- Your house is going up for auction or has already been sold on auction and your home loan has not been paid in full. It is almost impossible for any-one to recover from such a loss, having to rent somewhere and still pay the shortfall on the house you have lost.
- Unexpected medical expenses have forced you into debt.
- You were unemployed for some time and now you battle to pay debts you made whilst you were unemployed.
- You got divorced and your ex left you with huge debt.
- You provided surety (for instance for a friend or family member) or you had a failed business in the past and you have to pay for this from your salary.
The top 10 benefits of the voluntary sequestration process.
The voluntary sequestration process has many benefits which make it a viable option to debt counselling, debt review or debt consolidation (using debt consolidation loans). The benefits include:
#1. Get rid of creditors quickly and permanently.
You stop paying all creditors almost immediately, including the Receiver of Revenue. No more harassing creditors and debt collectors. You won’t even need to communicate with any of them as we will handle all further communications with your creditors. This can be done in as little as 3 weeks. What’s more, an order of Court limits the amount of debt that your creditors can recover from you as part of the sequestration. This can be as little as 20% of the amount you owe them. You don’t have to make further payments to harassing creditors as the unpaid debts are written off and you are no longer liable to creditors. |
#2. Keep your salary, other income and pension.
All garnishee orders against your salary get cancelled. Your salary or other income is your own to spend on the things you and your family need and to start saving for your future. No one can take that away from you. Your pension will also never be touched. |
#4. Stop legal action and attachment of your assets.
No more living in fear of a visit from the Sheriff as all legal actions against you are stopped and creditors may also no longer attach your assets. If your assets have already been attached, the sale in execution will be stopped and you may have the opportunity to get your assets back. |
#8. No need to appear in Court or deal with creditors.
You do not have to appear in Court at all, as an Advocate will appear on your behalf. You also don’t have to worry about dealing with creditors as all arrangements are made on your behalf by a Curator who is appointed by the Court to deal with creditors. |
#9. Start a new life.
Voluntary sequestration enables you to regain normality in your financial affairs as you can adjust your lifestyle to live within your means, without having to worry about debt. In summary, you get a fresh start in life for you and your family, where you can plan for a new future, debt free! |
You will agree that these benefits are very attractive if you are looking for ways how to get out of debt fast.
Request a FREE telephone consultation
As with most things in life, the voluntary sequestration process does not only have benefits, but also some disadvantages. However, the disadvantages will vary from person to person and in most cases the advantages outweigh the disadvantages by far.
Request a FREE telephone consultation to get a detailed explanation of the process, benefits, disadvantages, cost and full ins and outs of the voluntary sequestration process. This will enable you to compare voluntary sequestration as an option against debt counselling, debt review or even debt consolidation (using debt consolidation loans).
One of our helpful consultants will call you at a time which is convenient to you.
Request a FREE telephone consultation to get a detailed explanation of the process, benefits, disadvantages, cost and full ins and outs of the voluntary sequestration process. This will enable you to compare voluntary sequestration as an option against debt counselling, debt review or even debt consolidation (using debt consolidation loans).
One of our helpful consultants will call you at a time which is convenient to you.