R2,500.00 (incl VAT)
WHEN DO YOU NEED IT
If you are listed as being SEQUESTRATED
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.
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. We will consult with you, to establish the facts of your matter. You may need to provide us with supporting documents, for us to consider.
2. We will obtain a copy of the court file, to assess whether correct and lawful procedures were followed.
3. We will assess substantive and procedural requirements, in terms of relevant legislation, in respect of the particular matter.
4. We will determine whether or not you have legitimate grounds to apply for rehabilitation.
5. We will prepare a merit assessment of our findings.