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WCLawyer, Attorney
Category: South Africa Law
Satisfied Customers: 15603
Experience:  L.LB (UOVS)
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Good morning, I was sequestrated in March 2004, I have a Platinum

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Good morning, I was sequestrated in March 2004, I have a Platinum Account with FNB and applied for a overdraft this was declined because of the sequestration order on ITC. According to Credit Health there is no amount outstanding on this. How long will this stay against my name and how do I get rid of it. I have maintained a healthy bank account for the last 10 years and my bank suggested that I get legal advice on how to remove it.
Conrad van Schalkwyk
Good day.

This is an info request to assist you better. Please continue on this thread.

Just to confirm: You have been sequestrated more than 10 years ago?
Customer: replied 4 years ago.

No it was on the 24th of February 2004. I have a copy of the document from the court.

And have you paid back all of the debt that was listed in the sequestration order? I am aware that those debts are "written offf" once you are sequestrated, but this is relevant to the question about rehabilitation.
Customer: replied 4 years ago.


Have you brought a rehabilitation application in High Court?
Customer: replied 4 years ago.

No , I was told that the order will expire after a certain time frame. I never followed up on it because I didn't need debt until now.

It expires after 10 years. In other words, within 10 years, you will automatically be regarded as rehabilitated. That is also when the listing on the credit bureau will automatically be removed.

You can rehabilitate within the 10 year period and that is dealt with sections 124 up to about section 129 of the Insolvency Act. (a copy of the act can be found here)

So, in the absence of a court order that declares you rehabilitated, you are not yet rehabilitated and the listing at ITC is, for all intents and purposes, accurate and indisputable.

You therefore have the following options:

1. Approach an attorney to assist you in applying for rehabiliation if you qualify (I do not have enough information to say whether you do, but it seems as if you might qualify). It is going to be a High Court application and since you are going to have to lodge certain advertisements etc it is probably going to take two or three months.

2. Wait until February 2014, when you will be automatically rehabilitated.

I know that this is the worst possible news, and I am sorry that I have to be the bearer of bad news. If you have follow up questions in clarification, feel free to ask them at no extra cost. If you are satisfied with the answer, kindly click on one of the five faces on the ratings page. I don't get anything for this answer unless you do.

Customer: replied 4 years ago.

Thank you for your advice, as you know I am a bit cash strapped currently, can you recommend a lawyer in Pta East area and do you have an idea what the costs will be.

I am not allowed to make direct referrals, but you can search for a commercial attorney at

As to costs, it can probably be in the region of R 15 000 and upwards, but it depends on a lot of variables, such as the attorney that you are going to use, costs of your expenses in your area, whether someone is going to oppose it or not and a whole host of other things.

If you do obtain a quote from an attorney, get the quote in writing.
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