Quote Originally Posted by Alice Rain View Post
Can someone please tell me how I go about declaring myself insolvent?
Simple answer, "DON"T" they have to apply to the courts to get you declared insolvent, they won't get it right if you are paying something no matter how small, it will cost them more than you owe them to do this so "SIT TIGHT UNTIL THE SHOE FITS THE OTHER FOOT" eventually you will be in a position to pay them back, in the mean time ignore the flack after all they can't charge you more than double the original amount so add all the interest you have paid in the mean time because they have to pay you back if there is more paid than double (OK they probably will reduce the outstanding amount by the over charge, but still)

Just make sure that they haven't piled on more than double the R20,000.00 odd you mentioned and make sure that the figure you owe them is not more than double what it was when you first approached them and they froze your account.