PRESCRIBED DEBT? Do you have debt collectors calling you for an account that is older than 3 years and you totally forgot about…
If, in the past three years, you have not: made any payment towards settling a debt, acknowledged owing the money in any way or agreed to pay it, or been summonsed in respect of it, it has prescribed, and you can raise this as a defense when asked to pay such a debt.
The debt-collecting company or legal firm should close its file on you at that point. Some do, but others continue with the harassment via SMS, letter or email.
A threat which works well on most consumers is the one about being “blacklisted”, because it’s difficult to live without access to any form of credit. But the National Credit Act prohibits the listing of a prescribed debt.
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