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Sequestration Process

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Debt Counselling


Who qualifies?

Any consumer whose total outstanding liabilities are more than his/her total assets, and the income available is not sufficient to compile a reasonable debt rearrangement payment plan to the creditors, may apply for a voluntary surrender of estate, whereby the court writes off all the consumer’s debt!

  • You don’t have to own property!
  • You don’t have to appear in court!
  • All pending legal action is suspended immediately!
  • No further harassment from creditors!
  • Garnishee Orders are cancelled!
  • You will not lose your furniture, or household belongings!
  • You can start building a new estate immediately!
  • You can apply for rehabilitation after 18 months to 4 years!
  • Regain total financial control!

The procedure

  1. The “Application for Voluntary Surrender” as well as “Loose Asset Valuation” forms are completed, and the fee of R6000 is paid.
  2. As soon as we receive the instruction to proceed with the SEQUESTRATION PROCESS, an advert of intention will be published in the Government Gazette, and all legal action against you will be suspended with immediate effect (even a pending auction on your property will be stopped)
  3. An ability statement will be drafted based on the information in your application and has to be signed before a Commissioner of Oaths.  This document lies for inspection by creditors at the Master of the High Court and the local Magistrates Court for 14 days.
  4. A registered letter is sent to your creditors informing them of your intention to surrender your estate.
  5. After the Court Order has been granted, a Curator will be appointed by the Master to handle all the financial affairs of the estate. This can take up to 8 months or more, and you will be able to stay in your house until then, without having to pay. At this stage a family member or friend can make an offer to purchase the house from the curator.
  6. You will not lose your furniture, or household belongings.
  7. You can start building a new estate immediately.
  8. You can apply for rehabilitation after 18 months to 4 years.