Insolvency and Sequestration lawyers Limpopo in Limpopo, Limpopo

People in Limpopo are falling into more debt due to the ever rising cost of basic living and the cost of credit. It is a statistical Fact that more than half of our population is unemployed and in debt. Therefore scraping together whatever they can to survive
Even high income households can very quickly fall into debt and not see a way out with creditors knocking at their door for collection
Debt counselling and Debt review will usually be the first remedy against bad debt but in certain situations, this is too little too late
Sequestration is the only debt remedy which allows a debtor to rid himself of 80% of his debt through a single process and is relatively painless when you make use of a seasoned professional.
Advantages of sequestration
What are the advantages of sequestration? This question usually follows “What are the disadvantages of sequestration?” as we naturally look at safeguarding ourselves against the negative first. However, through reviewing the brief listing of the advantages of sequestration below, you will find that its positive impact far outreach its negative or limiting aspects and form a much more stable and long term solution to over indebtedness.
The first advantage of sequestration is most obviously that you legally rid yourself of approximately 80% of your debt. That’s as good as having a fairy godmother waiving a wand to make your troubles disappear.
The second largest advantage of sequestration is that any judgment taken against you, which is valid for thirty years, falls away. This is significant when you take into account that you can apply for rehabilitation after only four years as an insolvent. Once your application for rehabilitation has been granted your credit record will be cleared, effectively allowing you to start over, rebuilding a strong and healthy credit record by avoiding past mistakes.
Garnish orders placed on your salary will be removed placing your full income back into your control.
You will be allowed to keep your moveable assets without having it sold on auction though a buyback agreement with your court appointed curator.
You would not need to appear in court yourself as the attorney’s appointed advocate will bring your case on your behave before of the high court.
You need not deal with your creditors anymore as once under sequestration your attorney will handle queries on your behalf and direct them to your curator for distribution of their creditors benefit once such court appointment has been made. No need to run and hide from debt collectors anymore.
Lastly, and according to us a very important advantage of sequestration is that you will ultimately regain normality in your financial affairs.
Contact us today for the best advice on insolvency, sequestrations and Liquidations as well as Rehabilitation in the Limpopo - 0861 63 7771 or 073 053 7756