VOLUNTARY SURRENDER OF ESTATE

The voluntary surrender of estates is a legal process that will enable you to become debt-free in a timely manner. You will be declared insolvent with a court order obtained in the High Court of South Africa.

Applying for Rehabilitation after Sequestration
Application for rehabilitation can take place within as little as six months from the date of sequestration, depending on whether you adhere to the rules and regulations of the Insolvency Act.

The debt will be written off.
Up to 90% of the debts will be written off because of the sequestration order.

Movable assets
Movable assets will not be lost in the voluntary surrender of your estate. Because the trustee normally allows the insolvent to buy them back from the insolvent estate. This ensures that there are sufficient funds to pay the benefit to creditors as well as trustee and master fees in the insolvent estate.

Immovable assets
Immovable assets are sold in the insolvent estate, whether on a finance agreement or paid in full. Unfortunately, there is no way to safeguard immovable property in an insolvent estate.  Should the immovable property be registered in a trust or company, it will not form part of the insolvent estate.

Why Should You Surrender Your Estate Voluntarily?
Instead of paying off debt over time and incurring additional interest and costs, you can eliminate debt in a timely manner via voluntary surrender of estate. Because the bulk of the debt is written off.  The benefit that’s left is paid back interest-free. You can only benefit from this process.

Starting the Voluntary Surrender of Estate Process...
First, you'll have to complete the individual debt assessment form to evaluate your financial situation.  One of our consultants will contact you and explain the process and costs.  You will have the opportunity to ask all those burning questions that you're so uncertain about.  Once you've got all the information and quotations, you can decide if you want to continue with the process or not.

You'll be furnished with all the relevant documentation. You start by paying our fees. Because we want to have this matter in court in a timely manner, we will start with the process immediately.

The Formal Sequestration Process
• The process starts, and you are not permitted to make any more payments to creditors.
• There's no added interest.
• Your salary is secure.
• Existing garnishee orders remain in effect but will be revoked with the sequestration court order once granted.

Benefits of Voluntary Surrender of Estate
• Voluntary surrender of estate allows you to start over and you'll have the finances to do so.
• Creditors will stop harassing you.
• Employers are not informed of the Voluntary Surrender of Estate.
• The Advocate will appear in court on your behalf, and you don't need to attend.
• Notice to the creditors in the Government Gazette stops all legal proceedings.

You are not alone…
Our legal professionals will be with you every step of the way.

Information Required for Starting the Voluntary Surrender of Estate
To get started with the voluntary sequestration application process, you will need to provide some personal information. Please complete the obligation free Individual Debt Evaluation form for a free assessment and consultation. This information will only be used in office for the evaluation of your financial situation. 

What about my vehicle?
If you purchased your vehicle on a lease agreement, you’ll still be able to pay it and keep it. If you bought it through a finance agreement, however, it would be included in the insolvent estate.

Is there a way that I can keep my vehicle that’s still on a finance agreement if I keep it up to date?
Yes, in some instances, you can negotiate with the trustee and financial institution to keep the vehicle if it is necessary for work purposes, for instance, deliveries, etc. 

Or

When it's a necessity for a special needs person or dependant.

Proving the statement...
However, if this statement is made to the trustee, it must be supported by the relevant documentation proving that it is indeed true.

How will I know?
Talk to one of our professional consultants to ascertain if you will qualify for an exemption in terms of keeping a vehicle that is on a finance agreement and not a lease agreement.  Learn about voluntary Surrender of estate with the assistance of our experts.   Allow us to assist you in becoming Debt Free through voluntary sequestration in South Africa.

Don't wait. We can help you.  Because you want the best possible outcome, it is of utmost importance to find the right company to assist you in this endeavour to ensure that the matter is dealt with in a professional manner and that it is a reputable company that will provide you with the correct information pertaining to your financial situation.

Finding a Debt Relief Specialist:  PLEASE HELP!