What You Need to Know

Voluntary sequestration can provide much-needed relief, but it's not a decision to take lightly. Let's examine both the pros and cons.

Ending the Debt Cycle

Voluntary liquidation can cancel a significant portion of debt, allowing individuals to rebuild financially without ongoing pressure.

Loss of Privacy

All forms of voluntary insolvency become public record, meaning others—including potential employers—may access your financial history.

Years of Rebuilding

Recovery post-voluntary liquidation takes time, and credit rebuilding typically spans five years or more. Strategic budgeting is essential.

Impacts on Property

Under voluntary insolvency, you may be forced to sell real estate, although some exclusions apply with legal help and restructuring.

Know the Road Ahead

Always consult a financial adviser or insolvency attorney before committing to voluntary insolvency to ensure it aligns with your goals.