Prescribed Debt in South Africa: Is Old Debt Still Affecting You?
If an old account is still appearing on your credit profile or you are being contacted about debt from years ago, it may be worth checking whether that debt has prescribed.
In South Africa, certain debts can prescribe after a specific period if particular conditions are met. However, not every old debt automatically qualifies, which is why it is important to have your situation properly assessed
We can help you:
-
Identify debts that may have prescribed
-
Review how the debt is being reported
-
Establish whether prescription may apply
-
Assist with disputing qualifying prescribed debt
-
Guide you through the appropriate credit bureau or creditor process
-
Help you understand what should and should not remain on your credit profile
Don’t let old debt keep following you.
How Do I Check If My Debt Is Prescribed?
An old debt is not automatically prescribed simply because several years have passed. Whether prescription applies depends on the type of debt and what has happened since the debt became due.
When assessing whether a debt may have prescribed, important factors can include when payment was last made, whether the debt was acknowledged, and whether legal process was served.
If you are unsure, it is better to have the circumstances checked before acknowledging or making payment on an old debt.
Prescribed Debt on Your Credit Report
A debt appearing on your credit report does not by itself determine whether the debt has prescribed. The circumstances of the account need to be assessed separately.
If a debt has prescribed but information relating to it is still being reported, the next step may involve establishing what is being reflected by the credit bureau and whether that information should be disputed or updated.
We can assess the account, the available information and your credit profile to help determine the appropriate next step.
How Do You Prove That a Debt Has Prescribed?
Proving that a debt has prescribed usually requires looking at the history of the account rather than simply calculating how old the debt is.
Relevant information may include when the debt became due, the date of the last payment, whether the debt was subsequently acknowledged, and whether legal process was served. The type of debt can also affect the applicable prescription period.
We can review the available account information and help you assess whether prescription may apply and what steps may be appropriate.