Debtfree Magazine Issue 4 of 2021
SA's free debt counselling & debt review magazine. We discuss scams you need to beware of when thinking about leaving the debt review process early (and whether you could leave early).
SA's free debt counselling & debt review magazine. We discuss scams you need to beware of when thinking about leaving the debt review process early (and whether you could leave early).
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SEQUESTRATION - IS IT AN OPTION?
WHAT HAPPENS TO
YOUR CAR DURING
A SEQUESTRATION?
If you have a car financed through the bank, which
you still owe money on, that bank will take the car
back and sell if off on auction to recover some of their
money.
Sometimes, if the car payments are up to date, the bank may let you
keep on paying the installments each month and not take the car
back. This is totally up to them.
If you have a totally paid up car that is in your name (and not sold to a
family member or someone else before the time) then the car will be
sold off as part of your estate.
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