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 Can I be declared insolvent even if I can pay the money owed ?
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Starting Member

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Posted - 04 February 2014 :  22:42:27  Show Profile  Visit Sebatane's Homepage  Reply with Quote
Can I declared insolvent even if I can pay the money owed can they sell my property ofR800000 for owing R21000

forum expert

United Kingdom
2211 Posts

Posted - 05 February 2014 :  07:35:24  Show Profile  Reply with Quote

Have you spoken to the creditor to pay what you owe?

What country are you in?

Viki Warbrooke
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United Kingdom
4590 Posts

Posted - 05 February 2014 :  08:03:07  Show Profile  Reply with Quote
I wonder if it could be South African Rand?

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant

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forum expert

United Kingdom
565 Posts

Posted - 05 February 2014 :  12:45:59  Show Profile  Visit Blackie's Homepage  Reply with Quote
Hi Sebatane

Certainly not in this country because from what you are saying, you are not Insolvent. However the currency to which you refer is obviously not UK sterling and your country will have different Insolvency laws. We need to know the country in which you live.

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