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JUDGMENT FIX – REHABILITATION FROM SEQUESTRATION

R25,000.00 (incl VAT)

WHEN DO YOU NEED IT

If you are listed as being SEQUESTRATED

This will result in your credit score being set to 0

NOTE: In terms of the Insolvency Act, Act 24 of 1936, a person is automatically rehabilitated after a period of 10 years has expired from the date of provisional sequestration.

You can apply for rehabilitation 12 months after creditors have proven their claims against your insolvent estate. This period is determined by the Master who has confirmed the liquidation and distribution account as submitted by the Curator.

You can apply for rehabilitation before the 10 years have expired.  The general time period before an insolvent can make an application for rehabilitation is 4 years after the date of provisional sequestration.

Category:

Description

WHY YOU NEED IT

1. Being sequestrated makes it illegal for any bank or other credit providers to offer you a new credit facility.
2. It is impossible to open any new account, while sequestrated.
3. Having any of these “black marks” on your name flags you as a high risk to the banks and credit providers. It destroys your creditworthiness and any chance of securing finance.
4. These “black marks” also work against you, when applying for a new job or a promotion. It suggests that you are irresponsible and cannot manage your finances.
5. If you want to finance an asset or a new job or a promotion, you must have these “black marks” removed.
6. This will then make you eligible for new finance.

WHAT WE DO

1. Rehabilitation from sequestration:
a) We will enquire from the Master of the High Court whether any contribution amount is due by you and if so facilitate payment by you;
b) Liaise with your curator and obtain consent for the application;
c) Publish Notice of the application in the Goverment Gazette;
d) We will bring a formal application in the High Court, to have the Rehabilitation order granted;
e) We will prepare all legal documents, file and serve them;
f) We will appear in court on your behalf and argue the merits of your application;
g) We will obtain a court order confirming the Rehabilitation;
h) We will lodge this with all 4 credit bureau and have the sequestration order removed from your credit record.

TERMS & CONDITIONS

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