The process used to file for personal insolvency (or bankruptcy as it's known in the UK and USA) is known as sequestration and it's defined as the voluntary surrender of an individual's estate to the High Court in terms of the Insolvency Act, No.24 of 1936.
We specialise in sequestration applications and have assisted clients since 1995 with applications to the various High Courts. In fact, we were the first firm to offer this service in the form of an online over-the-web solution.
With our national infrastructure, we can assist you, no matter where you are, locally or abroad, as long as you have access to the internet. We offer all potential clients an initial free, no obligation financial assessment to ensure you qualify for this option. It's your choice to make use of our further services.
When you know it's time.... Call us - Take the first to becoming debt-free.
The Sequestration can be either voluntary or compulsory. The procedure and requirements for each method differ in material respects, but the consequences are exactly the same in both instances:
The Insolvency Act, No 24 of 1936 determines the exact process to be followed for sequestration in South Africa, and it also deals with the subsequent administration of the insolvent estate. We discuss the administration in greater detail in our Article section:
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