How will I know if sequestration is the option for me?

• I am about to lose my property or I have already lost my property and I am liable for the shortfall.
• They have reposed my vehicle or they are about to.
• My income is not enough  to cover my debt anymore.
• I have tried other options(Debt Review) and it did not improve my position.
• I have signed guarantee for the business debt and my business failed.

Benefits 

• Keep your monthly income
• Live in your home for  + - 3 months only paying your water/electricity 
• Your pension is safe 
• Start with a debt free life.

What is the impact of Sequestration?

• You will stop paying all your debt with immediate effect.
• All garnishees are cancelled
• You will still  be driving your car for free for a period of time before it will be sold.
• If you have no immovable assets you will have to "buy back your furniture"
• Rehabilitate after 3-4 years and start a fresh debt free life.

The meaning of Sequestration

Sequestration is a  high court application under the insolvency act.Any person that can prove their debt is more than their assets 

can apply for sequestration.The qualifying criteria is that we need to proof that there will be value to the creditors to the amount of 20 

Cents for every Rand that you owe,once that is proved the application will be granted.