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Answer for Car Repossession

Good day,

Thank you for getting in touch.

Debt has only prescribed if there has been no attempt by the credit provider to collect it or if no summons has been issued for the debt during the last 3 years. Also, if there has been no acknowledgement of debt during the last 3 years. If you have made any form of payment in the last 3 years it constitutes an acknowledgement of debt.

If it is not causing any trouble you can just leave it. But if it is giving you trouble you can claim prescription of debt as a defence; thus, when the credit provider attempts to collect you can claim prescription as a defence. If the debt has indeed prescribed we would advise that you get an attorney to write a letter on your behalf to the respective credit providers notifying them of the problems that are being caused by the prescribed debt on your credit record and then claiming that it has prescribed.

Have a great day.