High debt leads to sequestration

This is not an advert like the hundreds of ads out there promising to get you free of debt but rather my true life event before and after 2008.

We had our own company pre 2008 and were living a life of luxury, three motor vehicles in the garage, a large house with a bond of R1.600 000 and things were going well. Friends were plenty and parties and braai’s virtually every weekend. When I look back now I see that our lives were driven by money and possessions. At the same time we had debt … plenty of debt! But this wasn’t a problem as we could cover all our installments with a smile.

First Incident

The first incident happened in 2007 which gave us a bit of a knock, we received an order for numerous PC operating system packages to a value of over R100 000, cant remember the exact amount. I personally collected the packages from the supplier and delivered them to an address in Houghten which seemed totally legitimate and received a bank drawn cheque from the client as arranged. Later the same afternoon we received another order from the same client for laptops and other bits and pieces with the same payment arrangements, orders were placed. The following morning our bank informed us that the cheque we paid in was a forgery and no such account existed, what a complete shock!!

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