Voluntary Sequestration

Voluntary Sequestration is an application made by the debtor him or herself. When a person has major debts and it is unlikely that they well ever be repaid or be repaid over a longer period than 10 years then it may be in their best interests to apply for sequestration. You will need to get hold of an attorney to make this application on your behalf.

This is a decision that should not be taken lightly as all your assets will be put on auction and sold to the highest bidder.