What You Need to Know
Voluntary sequestration can provide much-needed relief, but it's not a decision to take lightly. Let's examine both the pros and cons.
Ending the Debt Cycle
Voluntary insolvency can cancel a significant portion of debt, allowing individuals to rebuild financially without creditor threats.
Loss of Privacy
All forms of voluntary sequestration become public record, meaning others—including potential employers—may access your financial history.
Long-Term Recovery
Recovery post-voluntary liquidation takes time, and credit rebuilding typically spans five years or more. Strategic budgeting is essential.
Impacts on Property
Under voluntary sequestration, you may be forced to sell real estate, although some exclusions apply with legal help and restructuring.
Seek Expert Advice
Always consult a financial adviser or insolvency attorney before committing to voluntary liquidation to ensure it aligns with your goals.