We have emigrated to Australia after my husiness failed, and my husband lost his job. We cannot meet any of our obligations in South Africa and want to apply for sequestration. We paid an attorney to do this for us, but we had to lie on the affidavits we were still in the country at time of signature. This was too big a risk for us and we lost the last bit of cash we had. Please confirm if you can apply for sequestration from outside the borders of SA. We emigrated 5 months ago.
Total outstanding debt is about R400k on my husbands estate and R300k on my estate
We are married by ANC in 2007
My business failed, and we got into a lot of debt funding the cashflow shortages (real estate agency) because we thought it was a short term problem.
Then my husband lost his job and we had no income
We sold our house, and paid to emigrate to Australia in Jan 2013
Neither of us could find work in South Africa, his salary here covers our expenses and we have about R4000 a month which we could pay over, but its not a drop in the ocean to the R66000 they want.
We moved with a boat which we could not get sold.
Our liquidated estate includes a vehicle which has been repossessed by the bank (wesbank) in my husbands estate
We will find the cash to sequestrate by cash.