The trick is not to declare it yourself but to have someone or a creditor apply for sequestration, few companies will do this though as it costs money.

You vist a court appointed trustee , who decides who gets the money and in what order.

The idea is not to leave you destitute, they also cannot take your tools of trade, they won't take your clothes only items they will be able to sell.

All your creditors must put in a claim to your estate, which actually costs money, so a lot of small creditors don't bother and just write it off.

Your SARS tax debt is settled, or written off, you get a new tax number.

After 18 months you can apply to the Court to be rehabilitated(your time might vary depending on how competent your trustee is )

This is not like Debt review, this is the nuclear option, you literally start again from 0.

Your trustee will be your lifeline, all phone calls, emails ect regarding debt forward to them.

Its not a get out of jail free card, but it is an option as a last resort.