Welcome to Bankruptcy24.co.za - The Ultimate Bankruptcy Website!

Welcome to Bankruptcy24.co.za - South Africa's ultimate website when it comes to Insolvency Law , Bankruptcy Applications and Forced Sequestrations . We have a few unique features, which will hopefully make your exploration of this website more enjoyable.

Use your mouse to move the cursor over any underlined word and a definition of the word or term will appear in a pop-up screen. The same will apply to the words listed under the Definitions & Terminology on the Main Menu on your left site of this website.

All the information we offer on Bankruptcy24.co.za pertaining Insolvency Law, pertaining to Bankruptcy Applications and Forced Sequestrations are free of charge. The Bankruptcy Applications themselves are tended by Dionne Lamprecht Attorneys, a law firm specialising in Insolvency Law, with a national infrastructure, able to assist South African citizens, no matter where you're located, locally or abroad. At Bankruptcy24.co.za we will do your Debt Analysis on a free of charge basis - no costs or charges of any kind.

Should you wish to proceed after receiving our free Debt Analysis of your individual financial situation, you will be contacted by one of our consultants or personnel from the Insolvency Division of Dionne Lamprecht Attorneys, to discuss the cost implications and further steps to follow. Please note that any information and all communications received from you will be protected by privilege under South African law, and will therefore be treated confidentially. It may not be divulged to a third party without your written consent.

If you choose, at any stage of the process, not to proceed with filing for bankruptcy, simply e-mail the word 'stop' to This e-mail address is being protected from spambots. You need JavaScript enabled to view it and all the e-mails, other communications and information you submitted to either Bankruptcy24.co.za or Dionne Lamprecht Attorneys, will be deleted completely from our system.


 
What is Bankruptcy?
Written by Rohan Lamprecht   

Once thought of as something that happened only to businesses, bankruptcy is an option that has become increasingly popular for individuals. Bankruptcy is a form of debt eradication and is probably the most effective and efficient debt solution currently available. More and more people are using bankruptcy as a way of eliminating unmanageable debt, which is why the number of individuals filing for bankruptcy has grown worldwide considerably in the last few years.

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The National Credit Act vs The Insolvency Act
Written by Rohan Lamprecht   

The most obvious benefits of the National Credit Act could be summarized as follows:

  1. The Applicant would not be divested of his or her estate in terms of the Insolvency Act. The purpose of the Insolvency Act is to enable the Trustee to realize the assets of the insolvent estate and in doing so; ownership will pass from the Applicant to the Trustee in terms of the Insolvency Act.
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    Definition Insolvency vs Bankruptcy
    Written by Rohan Lamprecht   

    The term insolvency is commonly confused with bankruptcy and is often used incorrectly as a synonym for bankruptcy. Although both insolvency and bankruptcy deal with liabilities exceeding assets, insolvency refers to a financial state and bankruptcy to a distinct legal concept, a matter of law.

    Insolvency is defined as a financial condition or state experienced when:

    1. A legal entity* or a person’s liabilities (debts) exceeds their assets, commonly referred to as 'balance-sheet' insolvency; or

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