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INSOLVENCY AND BUSINESS TURN-AROUND SPECIALISTS

INSOLVENCY AND BUSINESS TURN-AROUND SPECIALISTS

010 286 1966 | [email protected]

Insolvency Rehabilitation

Get a fresh start

We’ll provide you with a personalised process to make
the entire procedure as painless as possible.

5+ star Google review

Insolvency Rehabilitation

Get a fresh start

We’ll provide you with a personalised process to make
the entire procedure as painless as possible.

5+ star Google review

REHABILITATION process

Rehabilitation is a legal process that will help you get back on your feet after being declared insolvent. It’s a way to put you in the position of someone who has never been declared insolvent. This process can be initiated by either Court Order or in some instances automatically. Get a fresh start with liq1uidation attorneys.

Liquidation Attorneys Logo

Get your life back on track

Liquidation Attorneys Logo

Get your life back on track

REHABILITATION process

Rehabilitation is a legal process that will help you get back on your feet after being declared insolvent. It’s a way to put you in the position of someone who has never been declared insolvent. This process can be initiated by either Court Order or in some instances automatically. Get a fresh start with liq1uidation attorneys.

Liquidation Attorneys Logo

We're here to help

LEGAL IMPLICATIONS OF REHABILITATION

Section 129 of the Insolvency Act: “The effect is that of bringing an end to your sequestration and of discharging (writing off) all your debts which were due, or of which the cause of which had arisen before the sequestration, and which did not arise out of fraud on your part and to further relieve you of every disability resulting from the sequestration.

Liquidation Attorneys Logo

We're here to help

LEGAL IMPLICATIONS OF REHABILITATION

Section 129 of the Insolvency Act: “The effect is that of bringing an end to your sequestration and of discharging (writing off) all your debts which were due, or of which the cause of which had arisen before the sequestration, and which did not arise out of fraud on your part and to further relieve you of every disability resulting from the sequestration.

clear your credit record

so that you can buy a house or a car.

Some of the ways you can Rehabilitate

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CLAIMS PROVEN IN YOUR INSOLVENT ESTATE - Section 124(2)(a)

If creditors have proven claims against your insolvent estate you can apply for rehabilitation after twelve months after having lapsed since confirmation of the Master of the first liquidation and distribution account submitted by the trustee. A further condition is that a period of four years since the date of sequestration must have passed.

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FULL PAYMENT OF CLAIMS
- Section 124(5)

If the assets in your insolvent estate realize sufficient funds to pay all creditors who have proven claims in full, you immediately quality to apply for rehabilitation.

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EFFLUXION OF TIME
- Section 127(A)

If you have not applied to the High Court for a rehabilitation order and ten years have passed since the day of sequestration, you rehabilitate automatically.

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No Claims Proven - Section 124(3)(b)

If no claims have been proven against the estate and 6 months have elapsed since the date of the sequestration court order, the insolvent can ask the court for a rehabilitation order.

Some of the ways you can Rehabilitate

Z

CLAIMS PROVEN IN YOUR INSOLVENT ESTATE - Section 124(2)(a)

If creditors have proven claims against your insolvent estate you can apply for rehabilitation after twelve months after having lapsed since confirmation of the Master of the first liquidation and distribution account submitted by the trustee. A further condition is that a period of four years since the date of sequestration must have passed.

Z

FULL PAYMENT OF CLAIMS
- Section 124(5)

If the assets in your insolvent estate realize sufficient funds to pay all creditors who have proven claims in full, you immediately quality to apply for rehabilitation.

Z

EFFLUXION OF TIME
- Section 127(A)

If you have not applied to the High Court for a rehabilitation order and ten years have passed since the day of sequestration, you rehabilitate automatically.

Z

No Claims Proven - Section 124(3)(b)

If no claims have been proven against the estate and 6 months have elapsed since the date of the sequestration court order, the insolvent can ask the court for a rehabilitation order.

Testimonials

With over 12 years of client care, we always put our clients first. Our attorneys have advised thousands of businesses and owners giving them financial peace of mind and a plan for the future. Get Your Life Back on Track and Out of Debt

Marthie Jordaan | Client

5+ Rating review

Professional and thorough. Regular feedback. Good business experience. Recommended!

Marthie Jordaan | Client

5+ Rating review

Professional and thorough. Regular feedback. Good business experience. Recommended!

Che Cherry | Client

5+ Rating review

I referred a friend who has told me that the advice given has been extremely valuable and helpful. He has gone on to appoint Liquidation Attorneys to handle his matter.

Che Cherry | Client

5+ Rating review

I referred a friend who has told me that the advice given has been extremely valuable and helpful. He has gone on to appoint Liquidation Attorneys to handle his matter.

Liquidation-Attorneys-Icons-clients
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Testimonials

With over 12 years of client care, we always put our clients first. Our attorneys have advised thousands of businesses and owners giving them financial peace of mind and a plan for the future. Get Your Life Back on Track and Out of Debt

Marthie Jordaan | Client

5+ Rating review

Professional and thorough. Regular feedback. Good business experience. Recommended!

Marthie Jordaan | Client

5+ Rating review

Professional and thorough. Regular feedback. Good business experience. Recommended!

Che Cherry | Client

5+ Rating review

I referred a friend who has told me that the advice given has been extremely valuable and helpful. He has gone on to appoint Liquidation Attorneys to handle his matter.

Che Cherry | Client

5+ Rating review

I referred a friend who has told me that the advice given has been extremely valuable and helpful. He has gone on to appoint Liquidation Attorneys to handle his matter.

Frequently Asked Questions

What to do, how to do it and when to do it

Must I pay my debts before I can apply for Rehbilitation?

No. In layman’s terms, when you are sequestrated your debt is written off. None of your old creditors can ever force you to pay back the “old debt”. In legal terms your debt is not written off, it vests in a trustee who must realize the assets and distribute the yield of the sale of the assets amongst creditors in accordance with the insolvency act.

WHAT MUST THE JUDGE CONSIDER WHEN GRANTING A REHABILITATION ORDER?

Whether certain formalities have been met, but essentially whether you are fit and proper to partake fully in the commercial environment.

WHICH COURT HAS JURISDICTION TO REHABILITATE ME?

Only the Court that gave the sequestration order. There are a few exceptions on which we will advise you.

WHY DON’T I SIMPLY WAIT TEN YEARS?

Before you can fully and properly partake in commerce you must be rehabilitated. Banks will not allow you to open cheque accounts, credit cards, or to borrow money to purchase a property, car etc. unless you are rehabilitated. The further problem is that, for as long as you are not rehabilitated, every asset that you accumulate during sequestration vests in your insolvent estate.

Frequently Asked Questions

What to do, how to do it and when to do it

Must I pay my debts before I can apply for Rehbilitation?

No. In layman’s terms, when you are sequestrated your debt is written off. None of your old creditors can ever force you to pay back the “old debt”. In legal terms your debt is not written off, it vests in a trustee who must realize the assets and distribute the yield of the sale of the assets amongst creditors in accordance with the insolvency act.

WHAT MUST THE JUDGE CONSIDER WHEN GRANTING A REHABILITATION ORDER?

Whether certain formalities have been met, but essentially whether you are fit and proper to partake fully in the commercial environment.

WHICH COURT HAS JURISDICTION TO REHABILITATE ME?

Only the Court that gave the sequestration order. There are a few exceptions on which we will advise you.

WHY DON’T I SIMPLY WAIT TEN YEARS?

Before you can fully and properly partake in commerce you must be rehabilitated. Banks will not allow you to open cheque accounts, credit cards, or to borrow money to purchase a property, car etc. unless you are rehabilitated. The further problem is that, for as long as you are not rehabilitated, every asset that you accumulate during sequestration vests in your insolvent estate.

DO YOU WANT TO REHABILITATE AND CLEAR YOUR CREDIT RECORD?

Fill in the form and get a free consultation.  Liquidation Attorneys is here to help

About Breyten Potgieter

Breyten Potgieter is one of South Africa's leading insolvency attorneys. Get the right advice for you and your business. Know your option when it comes to Voluntary Liquidation.

When things get tough, you don’t have to face them alone. Our team has helped thousands of people to get out of debt, and back on their feet, with over 12 years of experience in liquidations, sequestration, insolvency rehabilitation, trusts and company registrations, we are the professionals you need to get you taken care of.

About Breyten Potgieter

Breyten Potgieter is one of South Africa's leading insolvency attorneys. Get the right advice for you and your business. Know your option when it comes to Voluntary Liquidation.

When things get tough, you don’t have to face them alone. Our team has helped thousands of people to get out of debt, and back on their feet, with over 12 years of experience in liquidations, sequestration, insolvency rehabilitation, trusts and company registrations, we are the professionals you need to get you taken care of.