Have you been declined for blacklisted loans, loans for bad credit, consolidation loans, are your accounts in arrears or you cannot cope with your debt any more. Then this is the best solution. No the cost and process before you start.
This is NOT debt Review/Counselling, Administration and NOT a consolidation loan!
This is a commitment to you and your families future not a quick fix.
- This process Only takes 24 months
- Most of the Interest, Fees and sundry costs attached to the accounts are written off – You pay back less than you owe
- This is Cash Sequestration And NOT Asset Sequestration – Huge Difference
- You do not have to own a property or assets to qualify
- Done at High Court Level – with High Court appointed Advocates, Attorneys and Curators
- This process replaces Debt review/Counselling and Administration
- You will not lose your Furniture – if Furniture is on HP tell us so we can advise
- You do not have to appear in court unless you want to – the Attorney’s will attend on your behalf
- You are protected from your creditors once your Court Order is granted
- Stop paying your creditors and or Debt Review Company– now you have the money to afford the process
- Close your bank account so no debit orders can go through – so that you can pay for your Sequestration process instead
- This is a Legal and Binding Process
- The fees are non refundable
- Curator fees are payable over 19 months – this is used to settle the creditors who stake claims at the end of this time
- Curator fees are debited on a monthly debit order – and minimum payable is R 1950.00 per month
The Pros: The Good
- Stop paying your creditors immediately
- No mounting interest or service fees – this process is transparent
- No hidden costs only said fees
- Garnishee orders to be stopped when Court Order is granted and obtained
- Affordable payment plan
- Put your salary back in your pocket
- The sooner you pay up your fees the better position you are in
The Cons: The Bad
- No credit facilities allowed during the Sequestration process for a period of 2 years
- If you have a house on mortgage this will form part of the process – you will be able to stay in the house without paying for about 2-4 months before returning the property – please advise in this instance – Other possibility on offer
- Send fully completed Application form and required Documents
- Assessment done based on Application and Nett salary
- You will be advised if in order and provide a payment plan based on assessment and Nett salary ( Fees are payable over 1,2 or 3 months based on assessment and Nett Salary)
- Pay the R 500 drafting fee as soon as possible so that the Pack may be drafted for your signing
- The pack informs you what your Curator fee is be based on the amount of debt you have outstanding – Payable over the 19 Month period
- The Fees are payble over 1,2 or 3 months based on assessment and Nett salary
- Once fees are paid up only then will you start paying the 19 Month Curator fees – this is the Court Process stage
- Court date applied for after 3 successful Curator fees have been paid
- After 3rd Curator fee you will get a intro letter from the Attorneys with all their contact details
- Further documents are drawn up, figures checked, and sent to attorneys for verification.
- Documents will be sent to you for signing – Originals to be overnighted via mail
- Once this is received the Advert will be placed in the Government Gazette with your court date which will also be sent to you – this will prevent further action.
The Fees: The Future
Remember you do not payANY creditors only the process and on a PAYMENT plan – so you have the money!
- The Fees of R 8000.00 is Made up as follows:The balance R 7500.00 is payable over 1,2 or 3 months based on Assessment and Nett salary
- R 500.00 is the Drafting fee for the Pack – this advises on what the 19 month Curator fees will be
- Curator fee is payable over 19 months based on the amount of debt outstanding – done By Attorneys – works out to about .22c for every Rand you owe
- After the 19 month Curator fees have been paid successfully, the attorneys will apply for a clearance certificate for your rehabilitation – this cost is R 4000 and up – all files are unique as each person’s debt differs- save for this as this is not done on a payment plan.This is to clear your Name and Debt.
- Fees are non-refundable – This is a legal and binding process!