DEBTOR SAVED FROM A LIFETIME BURDEN OF DEBT

By: Prinsloo & Associates  06-15-2011

Mr & Mrs K owned a property. They both lost their jobs. They fell into arrears with their bond repayments and the bank repossessed the property. An execution sale date was set by the bank. The auction took place. Mr & Mrs K were instructed to leave the property immediately. They were also liable for a shortfall of R800 000 on the bond. Plus they remained liable for the balance of their debt of about R500 000. Two days after the auction, we sequestrated Mr & Mrs K. Not only could they remain the property for a further 4 months (free of charge), they did not have to pay any shortfalls or other creditors. They immediately could start turning their lives around, knowing that all the monies they earned are theirs and not that of creditors. We were very happy to assist them. Mr & Mrs K are just one example of the hundreds of people we help to start new lives.


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