Comprehensive Debt Assessment

Is an evaluation of a individuals total debt circumstances. This assessment is a crucial part in understanding the individuals financial health and what measures may be needed to remedy the circumstances.

What does a comprehensive debt assessment entail.

• Debt inventory
• Debt analysis
• Income and expenses review

Financial goals, liability assessment, risk assessment and planning. Professional consultation. A comprehensive debt assessment provides a clear and detailed picture of one’s debt situation, enabling informed decision-making and effective financial management.

Voluntary Surrender of Estate

Surrendering your estate is a legal process designed to assist  
individuals facing financial difficulties beyond their control.  
It allows you to keep certain assets while addressing outstanding debts..

Voluntary surrender helps restore financial stability, enabling you to adjust your lifestyle to your income. By resolving your affairs through the High Court, you gain relief from incessant creditor calls and the fear of asset seizure by the Sheriff.

Liquidation

The word liquidation is applicable when a company is insolvent.

This remedy is entrenched in our company law, act 79 of 2008, as amended, also regulated by the insolvency act 24 of 1936.

Although the process for liquidation is set and managed by the Master of the High Court, there are aspects pertaining to the liquidation of a company, which are unique for each company.

Rehabilitation

After experiencing Voluntary Surrender of Estate, insolvency, there’s a path to recovery!

You can seek rehabilitation to clear your record and rebuild your reputation.

Without rehabilitation, your bankruptcy will remain on your credit report for 10 years, barring you from incurring new debt. However, pre-bankruptcy debts are handled as part of the insolvency process.

Maintaining a positive relationship with your trustee is crucial for successful rehabilitation. Failure to meet requirements, like incurring new debts post-bankruptcy or not complying with trustee directives, can hinder your chances of rehabilitation.

Trustees may impose financial management measures during the bankruptcy period, such as monthly financial reports or attendance at meetings, to support your rehabilitation.

Before applying for rehabilitation, the trustee must draft a Liquidation and Distribution Account (L&D) detailing the management of your estate.

This account is submitted to the Master of the High Court for approval, which may take some time.

Debt Review

We can refer you to a reputable company to assist you with this. We are there to assist all clients in our company. We are private company that give personal service in all aspects to help you to get your financial freedom back.