Faq

Bankruptcy

How does one end up losing everything? We provide some enlightenment on the topic that evokes the greatest financial fear.

What are my rights and obligations as a bankrupt?
Will one end up in Court?
What are my employment prospects as a bankrupt?

There are restrictions imposed on where bankrupts can work, such as jobs that require licences to be renewed, for instance, remisiers, insurance agents and financial advisors. Some employment contracts require an employee to resign if he is declared a bankrupt.

What does it mean when one is declared a bankrupt?
How might I be discharged from bankruptcy?
How is one made bankrupt?