Get Legal Help with Your Debt – Approach Insolvency Lawyers in Centurion

Rather than having sleepless nights because you are unable to pay your debt, get in touch with our insolvency lawyers in Centurion. Of course, you can talk to friends and family, but unless they understand insolvency law, you risk getting advice that can land you in hot water.

One of the mistakes people often make when they face huge debt is to negotiate with their creditors without the help of insolvency lawyers. Indeed, such negotiations can be seen as an act of insolvency, admitting that they cannot pay the debt and requesting lower interest or extended terms. If they do so in writing, the creditors have sufficient grounds to bring judgments against them and can apply for their sequestration.

Do not be a victim of ignorance. Our team of insolvency lawyers in Centurion should be your first stop. They will assess your financial situation and recommend the right course of action. If this entails negotiation with creditors and thus a distribution agreement, they will explain how it works. In essence, it is when you pay an agreed-on amount in at our offices in Centurion. We subtract our distribution fee and distribute the payments to the creditors according to the agreement. In this way, the creditors work with us and you only need to ensure regular payments of the agreed-on amount.

If voluntary sequestration is the best solution for your debt situation, they will explain the benefits and disadvantages. Our team of insolvency lawyers in Centurion will assess if you qualify for this and if you decide to proceed with voluntary sequestration, will handle the entire application process. You will not need to appear in court.

They will also handle negotiations with the court-appointed curator regarding the buyback of your furniture and firearms. The furniture will be written up, but not removed from your home. You will then buy back the furniture from the sequestrated estate at the low auction value. The same applies to your firearms.

Our insolvency lawyers in Centurion will also help you through the process where your house is sold on auction. You will have up to three months to stay in the house and given that you will not need to pay rent or your bond during the period, you will have the cash to pay for a rental abode when the time comes. Though you will lose your house in the process, up to 80% of your debt will be written off. You will be completely debt-free.

Get in touch with our insolvency lawyers in Centurion for assistance in following correct procedures to deal with creditors and applying for voluntary sequestration.

 


Disclaimer: This article is for informational purposes only and does not constitute legal advice. Call our attorneys for legal advice, rather than relying on the information herein to make any decisions. The information is relevant to the date of publishing – April 2019.

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