If you have been sequestrated, you will want to regain full financial control over your estate as soon as possible. Read on to learn more about rehabilitation, what it is, the process involved, how to apply and what outcome to expect, why it is better to do so than wait, the costs involved, and where to start if you want to apply.

 

What is Rehabilitation?

It is the legal process whereby you apply to court to bring an end to your sequestration. Learn more about sequestration here.

 

Legal Implications

When you are rehabilitated, your legal status from before the sequestration is reinstated. You can apply for government positions, which you could not hold while under sequestration, operate as a general trader, be a director of a company, and enter credit agreements without permission from the curator/trustee. You can learn more about the legal implications of rehabilitation here.

 

Learn More About Rehabilitation – Understand the Process

voluntary sequestrationIt is a legal process, entailing an application to the High Court in the jurisdiction where you were sequestrated. Therefore, you need the help of an attorney to handle the application to court. The attorney also helps you determine if you qualify. You can learn more about the requirements for rehabilitation here.

 

How Do You Apply?

Complete the online rehabilitation assessment form if you want our attorneys to help you determine if you qualify, and start the process if you want to bring an end to sequestration. You do not have to appear in court. The attorney compiles the documents and presents you in court.

 

What Outcome to Expect

If the requirements are met and the application is approved, you will be declared as rehabilitated. Your credit record at the credit bureaux will be updated to reflect your new status. This status will stay in place for five years after which it will be removed. You will not have to apply for its removal. Once rehabilitated, you will have full financial and legal capacity as before the sequestration.

 

Why Not Wait for Sequestration to Take Its Course?

If you do not apply to be rehabilitated, you will have diminished legal capacity for ten years. This is a long time and with the restrictions of sequestration, you will not be able to start a company of which you will be a director. It is in your best interest to apply as soon as requirements are met. The average period before application is four years after the date of sequestration. You can apply sooner if the requirements are met. Consult with our attorneys regarding available options.

 

What Does it Cost?

A small, non-refundable deposit is payable. At the time of writing, the amount is R1000. Once the attorneys have obtained all the required documents and you decide to proceed, you can obtain a quote from our Head Office. Learn more about the costs involved to rehabilitate here.

 

Where to Start if You Want to Apply?

Start with the online assessment form. Once completed in your own time and you have gathered the required documents, you can submit the form for an assessment.

We have given the basic information to help you get started. In essence, it is the legal process whereby the High Court brings an end to your sequestration. Learn more about the process and implications through our range of articles on sequestration, rehabilitation, and related matters.

 


Disclaimer: This article is for informational purposes only and does not constitute legal advice. Call on 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. 

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