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TRUSTS & INSOLVENCY

From time to time we tend to receive enquiries regarding Trusts and Insolvency and / or Sequestration of individuals and the advantages of setting up a living trust and the effects of Insolvency / Sequestration of an individual that is also a beneficiary of a trust.

BECOME DEBT-FREE IN 1 YEAR

You, like many others, may be aiming to save more money and Becoming Debt-Free in one Year. However, debt eradication takes time, especially if you're trying to become Debt-Free on a tight budget.

SEQUESTRATION & VEHICLES

The biggest concern to each and every over-indebted individual is to be able to keep their vehicles. No one can get by without a vehicle in South Africa.

SEQUESTRATION & REHABILITATION

In South African law, Sequestration and Rehabilitation are two processes that operate in tandem. It is natural to want to file for Rehabilitation after Sequestration.

INSOLVENCY & IMMOVABLE PROPERTY

There is an unsurmountable amount of individuals that enquire about insolvency and immovable property. The normal questions involving this topic is:

• Will I lose my property if I want to declare myself bankrupt?
• What if my property is paid in full, will I still lose it?

COMPANY LIQUIDATION - YES / NOW?

When a company is insolvent, the term "liquidation" is used. This remedy is codified in our company law, Act 79 of 2008, as amended, and is also governed by the Insolvency Act 24 of 1936.

FINANCIAL REHABILITATION FOLLOWING SEQUESTRATION

In South Africa, financial rehabilitation following sequestration is a legally sanctioned procedure wherein the insolvent party's status as "bankrupt" or "insolvent" is lifted. According to the South African Insolvency Act, rehabilitation becomes automatic ten years after insolvency if the insolvent party does not apply to the court before then.

THE PRINCIPLES OF DECLARING BANKRUPTCY IN SOUTH AFRICA

Insolvency / Bankruptcy / Sequestration is a financial scenario in which an individual's earnings are inadequate to cover their monthly bills and debts. It is also the financial situation of a firm in which the liabilities considerably outnumber the assets, and the business is unable to meet its financial obligations.

FINANCIAL HARDSHIP & FEELINGS OF DEPRESSION

Depression and financial difficulty often go hand in hand. This remark does not imply that every person or business owner who has ever faced financial problems sinks into a pit of hopelessness.

FINANCIAL DIFFICULTIES & DIVORCE

Having a stable marriage is one of the most precious gifts you can give your children. However, that is not always possible. Once a couple made the decision to get a divorce there’s an array of problems that follows of which one of the most prominent problems is Financial Difficulties.