When you sequestrate your estate you will not be able to enter into any credit agreements until such time that you are rehabilitated. A Sequestration Order is obtained in the High Court of South Africa. This option may affect your ability to get a job, specifically if you are employed in the financial industry and most definitely is not the option for you if you are FAIS registered. In some instances, it may affect your ability to rent a property, but it does not mean that you will not be able to at all. It is always dependent on the agency /owner of the property whether or not they will let the property to someone who is sequestrated.
When will our Sequestration South Africa service benefit you?
- When you are unable to pay your monthly debt
- When you are falling behind on your payments
- You tried debt review before and it did not work out
- You have been unemployed for a while, found work but are still behind on your payments
- When your house is going on auction
- When the bank wants to take your car away.
The option of sequestration has a large impact on your credit profile, however, if you are in a situation where credit providers have obtained judgments against you, and more legal action is looming, it is the best option to relieve the financial stresses that impact every aspect of your life.