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Bankruptcy is a legal proceeding whereby an individual or a business can declare an inability to pay back debts. Bankruptcy allows individuals or businesses to either restructure their debt and pays it back within a payment plan , or have most of their debts absolved completely.

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16y ago
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10y ago

To file for bankruptcy in South Africa you will have to fill out and file a debt information form and request a valuation of your assets.

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Q: How do you file for bankruptcy in South Africa?
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