Looking for an Administration Order Attorney in Durban?
Administration is an option you may have taken in the past if your debts at the time were less than R50 000 and you were not able to pay off or service these debts. An administration order would then have been granted in terms of the Magistrates’ Court Rules. An administrator would have been appointed to collect from you an affordable amount of money at regular intervals. Such amounts would be distributed to your various creditors that are encompassed in the administration order.Administration Order Attorney in Durban.
An administration order shall reflect on your credit record and shall negatively influence any credit applications you may make. Similarly, if your estate has been previously sequestrated, a notice of sequestration shall reflect on your credit record and this too shall have a negative impact. The fact that you have been rehabilitated is also noted on your credit record and unfortunately in practice, potential credit providers may negatively view your credit application even in light of the notice of rehabilitation.