The legal process involved in terms of which a Creditor which holds security for its claim can convert such security to cash when the debtor defaults. Such security may comprise, for example, a mortgage bond over property, a Credit Agreement such as a Lease or Instalment Sale Agreement in respect of a motor vehicle or other movable goods, a pledge of shares or a cession of book debts. Legal steps would need to be taken such as commencing action by way of summons or bringing an application to Court. We will assist you in all steps of the process including in the case of a sale of a property by the Sheriff, the placing of advertisements in respect of such sales and possibly also appointing Auctioneers, with a view to achieving a higher selling price.

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