What is Sequestration

What is Sequestration And Should I Sequestrate?

Sequestration is the only legal way to have all your debt written off completely in a process that is governed by the Insolvency Act. The purpose of sequestration is to give an honest debtor a “fresh start” in life by relieving them of their debt.

YES you should sequestrate when

  • Your Title Goes Here 100%
  • You can’t afford your debt every month, just that simple.
  • Your house has been auctioned by the bank and there is a shortfall.
  • Your car has been repossessed by the bank and there is a shortfall.
  • Your business failed and your current salary is taken up with repayments.
  • You were without work for a period of time and now you are playing catch up.
  • You got divorced and were left with the debt (yes it happens to both men and women).
  • You are paying debt older than 3 years old.
  • You are under Debt Review and the debt is not decreasing.

MAYBE you should sequestrate when

  • Your Title Goes Here 50%
  • The bank is going to reposes your car soon.
  • Your property is going up for auction.

NO you should probably not sequestrate when

  • Your Title Goes Here 100%
    • You have a car on HP and it is your only form of transport.

 

  • You have an outstanding bond and you have no other means of accommodation.

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