Sequestration rehabilitation

Sequestration rehabilitation is a legal process which happens by order of the High Court of South Africa, whereby the Insolvent (applicant) is declared financially fit and proper again by the High Court. When a person has been sequestrated, he/she can apply for rehabilitation. Once rehabilitated, the sequestration comes to
an end and the insolvent can start afresh. Rehabilitation is not compulsory after you have been sequestrated but in certain circumstances an Rehabilitation would like his/her credit worthiness to be reinstated as quickly as possible for example when you want to buy a property or when you need your name to be in good faith for business purposes. In terms of the Insolvency Act, Act 24 of 1936, a person
is automatically rehabilitated after a period of 10 years has expired from date of sequestration that means that should you not apply for a Rehabilitation you will automatically be rehabilitated after 10
years

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