BENEFITS OF SEQUESTRATION

Sequestration is often thought of as a very negative option but it has many benefits for you when you are over indebted.

GET RID OF ALL YOUR DEBT
You get rid of all your debt including arrear taxes, maintenance, school fees, medical bills, rent and more.
KEEP YOUR MOVABLE ASSETS
You are able to keep your movable assets which are paid off, sometimes even motor vehicles which are under finance.
KEEP YOUR POLICIES & ANNUITIES
Your policies and retirement annuities are protected by law and cannot be claimed by your creditors.
OTHER COMPENSATION
Any compensation for personal injuries, defamation, accidents etc. that you might claim, fall outside your insolvent estate.
CANCELS GARNISHEE ORDERS
Your sequestration rescinds all garnishee orders and attachments that there might be against your salary.
PRACTICE YOUR OCCUPATION
You may continue to practice your chosen occupation after sequestration or any other occupation you choose.
PROTECT YOUR SALARY
Your creditors can’t touch your salary or income and this is protected to ensure you can continue your life on a solvent basis.
REHABILITATE WITHIN 3 YEARS
In most cases you can rehabilitate within 3 years. If you do a cash sequestration you can usually rehabilitate after 18 months.
RESTORE CREDIT RECORD
Your ITC/Credit record is restored after your rehabilitation and starts afresh.
KEEP YOUR FIREARMS
You may keep the firearms which are registered in your name. They do not form part of your insolvent estate.

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