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What Is Sequestration?

Sequestration is administered in terms of the Insolvency Act and all your debt is written off.

It’s A Good Idea To Sequestrate If:

  • You are unable to pay your debt monthly
  • You are falling behind with payments
  • You have been without work, found employment, but are behind
  • Debt review did not work for you
  • Your house is going on auction
  • The bank is going to take back your vehicle


What Will The Sequestration Process Be?

  • Letters go out to all creditors informing them of the sequestration
  • You will not pay any creditors at all
  • A court date is applied and the application is handed in
  • You get a court order
  • Trustee is appointed to administer your estate
  • You are under sequestration for 4 years
  • We rehabilitate you thereafter


Questions That Are Often Asked:

My House:

Q: Do I get to keep my house?

A: No! The house can’t be saved

My Car:

Q: Car on installment?

A: Yes. You will lose it
 
Q: My car is paid up?

A: You will not lose your car

Other Questions:

Q: What about my salary?

A: No one may touch your salary
 
Q: What happens to my furniture?

A: If payments are still being made on it, then you will lose it.