Sequestrations

Debt Correct
Address: 414 Fiesland Lane, 12 Lynwood Crescent, Lynwood
0081
Short Business Description:
At Debt Correct, we strive to help take the burden of financial stress of each client.
Long Business Description:

ABOUT US
We specialise in sequestrations, rehabilitations & liquidations. We are able to provide easily understandable and practical guidelines.

Our experience in these matters makes Debt Correct particularly empathetic towards our clients day to day stress in dealing with unrelenting creditors.

We strive to provide to best service possible and to help take the burden of financial stress of our clients.
WE SPECIALIZE IN THE FOLLOWING
SEQUESTRATION
Voluntary sequestration is the surrendering of your estate to the Master of the High Court under the governance of the Insolvency Act 24 of 1939. This application brought in the High Court of South Africa, by an Attorney in cooperation with and advocate on behalf of the debtor (the applicant) to have 60% – 80% of his/her debt written off, as a final resort to escape insurmountable debt accrued through circumstances beyond his/her control.
LIQUIDATION
Liquidation is the process by which a company gets closed down, because the business has become insolvent. Liquidation can either be the end of a chapter in your life, or it can be an enabler for a new chapter. We at Debt Correct can help you with the registration of your new company.
REHABILITATION
Rehabilitation after sequestration is the process through which a person who previously sequestrated restores their legal status to that of solvent. Rehabilitation restores their ability to become a credit worthy consumer.

Contact Us Today!
WHATSAPP –  060 526 3548
Call – 060 526 3548

Business Website Address:
Business Phone Number:
060 526 3548
Green Debt | Sequestrations | Liquidations | Rehabilitation
Address: Norton Rose House,12th floor SZ Inc, 8 Riebeek Street, Cape Town
8001
Long Business Description:

Our main aim is to provide debt assistance to people who experience severe financial difficulties through secure, cost effective and efficient approaches.
Green Debt has established National relationships with industry leading Attorneys all of which are exposed to strict screening and process evaluations. Clients are ensured of fixed pricing and diligent service. So there are no “out of pocket” surprises.

Cost effective Sequestration

Qualified and Professional Service

Assistance to consumers nationally

Reputable Attorneys and Legal Partnerships

Our personnel are all fully trained in the services provided. A free consultation as well as a comprehensive assessment ensures that our clients are well informed about all the processes. Part of our service provided includes a full support system throughout the process, constantly updating you on the progress of your application.
We are committed to giving you the best debt advice relevant to your personal circumstances. Our highly regarded debt assistance will help you decide the best way forward leaving you completely confident and stress free.
Visit our website www.greendebt.co.za  or call us on 011 504 2914

Sequestration

Allows a consumer to make a “fresh” financial start. It is a legal process resulting in an individual being freed from their overwhelming debt obligations. The Credit Providers receive approximately 40% of your overall debt and the other 60% is written off. The 40% owing is split into 18 installments. Once these installments are paid in full the consumer is considered to be debt free.

What is Sequestration?

If as an individual you are unable to service your debt obligations, an application can be made to write off 60% of your debt by Sequestrating your estate. In instances where an individual has a large amount of unsecured debt, taking more than 5 years to settle, Sequestration is a better option than Debt Review or Debt Management. It is the best legal mechanism  an individual has access to in South Africa to manage debt problems. Not only is the debt owed reduced, but also the repayment term. Visit our website for more info www.greendebt.co.za

Liquidation

What is Liquidation?
When a business is unable to pay it’s debts, the owner of the company can apply to liquidate the business. Liquidation encompasses the process of a Liquidator taking charge of the estate and selling the assets by way of public auction.

If auctioning off the client’s assets does not generate enough revenue to pay off debt, Credit Providers will turn to personal sureties to pay the difference. If the directors or members cannot settle the outstanding debts, then they have the option to include these debts under debt review, or apply for Sequestration in their personal capacity. Visit our website for more info www.greendebt.co.za

Rehabilitation

What is Rehabilitation?

An insolvent can apply to Court for Rehabilitation 4 years after the date of provisional Sequestration. In some instances the Insolvent can apply sooner. There are 7 Sections in the Insolvency Act with 8 circumstances under which you can Rehabilitate. Each of these instances has it’s own time frame. An insolvent is automatically rehabilitated after a period of 10 years has expired from date of Sequestration.

Visit our website for more info www.greendebt.co.za

 

Business Website Address:
Business Phone Number:
011 504 2914
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