The Consumer’s Guide to Debt Prescription
Ever received a demand for an old debt you’d forgotten about completely? You're not alone. In South Africa, the law provides relief through a concept called prescription of debt. At Hammond Pole Attorneys, we believe in empowering consumers with knowledge about their rights and responsibilities regarding prescribed debt. What is the prescription of debt all about? Prescription refers to a legal concept in South Africa where a creditor's right to claim unpaid debt expires after a specific period. This means that after enough time has passed, you are no longer legally obliged to settle the debt. How long does prescribed debt stay on...
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