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INSIDE YOUR POCKET: How To Get Your Debt Written Off In South Africa

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Avitha Nofal, Credit Ombudsman’s Senior Legal Advisor talks about Ever wonder how to get your debt written off in South Africa and how many years it would take for debt to be written off? Prescribed debt is old debt that has not been acknowledged, verbally or in writing, or paid for more than three years. Prescribed debtis old debt that has been written off by credit providers.

What does it mean when debt is written off?

While there are ways for creditors to still claim this debt, the amendments to the National Credit Act in March 2015 make it almost impossible for debt collectors to get back this expired debt.  
Before it was up to the consumer to know this as a defense when dealing with collectors, and many collectors would be hoping to trick the consumer into paying the expired debt, but now there is a greater move to inform consumers of their rights.

However, if any payments or promises of payments have been made in that time, then the debt is still valid and the consumer is liable for it. Often collectors will try and find a way to trick you into acknowledging the debt during communications, and if you play into their hand and admit to knowing about it then they can hold you responsible.
2 Feb 2023 1PM English South Africa Business News · Investing

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