{"id":17,"date":"2024-06-15T08:51:18","date_gmt":"2024-06-15T08:51:18","guid":{"rendered":"https:\/\/hgproperties.co.za\/flag\/?page_id=17"},"modified":"2024-06-20T18:49:12","modified_gmt":"2024-06-20T18:49:12","slug":"rehabilitation","status":"publish","type":"page","link":"https:\/\/hgproperties.co.za\/flag\/rehabilitation\/","title":{"rendered":"Rehabilitation"},"content":{"rendered":"\n

What is Rehabilitation?<\/strong><\/h2>\n\n\n\n

Rehabilitation<\/strong> is the legal process by which an Insolvent (a sequestrated individual) is relieved of the legal implications of being an Insolvent and restored to the legal status of a credit worthy consumer (a \u201csolvent\u201d).<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

Documents required for rehabilitation<\/strong><\/h4>\n\n\n\n

The sequestration order.<\/p>\n\n\n\n

Certificate of appointment of trustee<\/p>\n\n\n\n

The Section 81 report<\/p>\n\n\n\n

The first and final Liquidation and Distribution account (L & D)<\/p>\n\n\n\n

Confirmation letter in respect of the first and final Liquidation and Distribution account<\/p>\n\n\n\n

Date when the first and final Liquidation account was confirmed by the Master of the High Court<\/p>\n\n\n\n

<\/p>\n\n\n\n

When can a person apply for rehabilitation once you have become insolvent?<\/strong><\/h4>\n\n\n\n

There are seven instances hereunder an application can be made to the High Court for your rehabilitation.<\/p>\n\n\n\n

At Any Time (1)<\/td>Section 124(1):<\/strong> An offer of the composition of at least 50 cents in the rand to concurrent creditors is made and accepted by three-quarters of creditors in value and number.<\/td><\/tr>
At Any Time (2)<\/td>Section 124(5)<\/strong> After full payment of all proved claims. Any time after confirmation of estate account.<\/td><\/tr>
Six Months<\/td>If no claims have been proven in against the insolvent estate and not previously insolvent and no convictions of certain offenses.<\/td><\/tr>
Four Years<\/td>Four years from date of sequestration and one year after confirmation of the first liquidation and distribution account.<\/td><\/tr>
Previously Sequestrated<\/td>If previously sequestrated, four years from the date of sequestration and three years after the confirmation of the first liquidation and distribution account.<\/td><\/tr>
Five Years<\/td>If you have been convicted of a criminal offense in your insolvent estate, you may apply for your rehabilitation five years after your conviction.<\/td><\/tr>
Efflux of Time<\/td>If you have not applied for your rehabilitation, you become automatically rehabilitated after ten years.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Advantages<\/strong><\/h4>\n\n\n\n