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Unpaid debt review after 3 years

Questions & AnswersCategory: Debt ReviewUnpaid debt review after 3 years
Glen asked 2 years ago

I went under debt review 4 years ago.  I have been unable to pay the monthly debt review amount for 3 years now.  Has my debt been prescribed.  Or am I liable to pay?

1 Answers
Carien Kruger Staff answered 2 years ago

Hi there,

Thank you for the question.

Debt has only prescribed if;
(1) There has been no attempt by the credit provider to collect it.
(2) If no summons has been issued for the debt during the last 3 years.
(3) 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.

Prescription of debt is a defence; thus, when the credit provider attempts to collect you can claim prescription as a defence.

Kind regards