If you can’t afford to re-pay your debts under a restructured plan, or don’t wish to try, sequestration may be the best option. There are advantages and disadvantages with either debt counselling or sequestration.

If we had to summarize it crudely, debt counselling allows you to continue functioning in your job and sustain yourself.  This results in the minimum disruption to your life. You get piece of mind and your creditors have to leave you alone, as you receive legal protection.

Whereas sequestration wipes your slate “clean” and abolishes all your debt. You lose your assets as they go to your creditors (those you owe money to). You are left with no assets, can continue working, and once you rehabilitate yourself, all your “old” debts are extinguished - gone for ever. However, if you don’t have assets to offer your creditors, then you will need some money to offer your estate before you can sequestrate.

To find out more about sequestration and your rights and obligations, you can download or view a brief document by clicking here

Whether you require debt counselling or sequestration

is more appropriate, we have the right solution for you!