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How to be proactive if your property is being repossessed?

How to be proactive if your property is being repossessed?

  1. Apply for debt counselling

This gives you the opportunity to sell the property while only paying 80% of the normal payment. You gain valuable time required to realise the maximum value out of the property.

  1. Apply for voluntary surrender of estate

If there is no value in the property, then voluntary surrender is an option. If the outstanding bond is more than the value that the property can be sold for, you may apply for sequestration and walk away from all debt.

  1. Oppose the judgement

If there is no value in the property, opposing the judgment is a valid option. If the remaining bond is greater than the property’s value, then you may apply from sequestration and not be responsible for debt.

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