Prescribed Debt Removal: Understand Your Rights
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Are you facing credit issues due to old, unpaid debts? In South Africa, certain debts can become 'prescribed' after a specific period, meaning creditors may no longer be able to legally enforce them. CS Clear helps you understand prescribed debt and assists in removing it from your credit record, where applicable, to improve your financial standing.
What is Prescribed Debt?
In South Africa, debt prescription occurs when a creditor fails to take legal action to recover a debt within a specific time frame. The Prescription Act 68 of 1969 governs these time frames, which vary depending on the type of debt. Generally, most ordinary debts prescribe after three years. However, certain conditions must be met for a debt to be considered prescribed. It is important to know that prescription does not mean the debt no longer exists, but means legal action to collect the debt cannot be taken.
Important Considerations Regarding Prescribed Debt:
Understanding the specific time limits for different types of debt is crucial. We can help you determine if your debt has prescribed.
If you acknowledge a prescribed debt, it can reset the prescription period. It's important to understand your rights and avoid inadvertently reviving old debts.
Ensure your credit report accurately reflects your current financial standing.
Even if a debt is prescribed, it may still appear on your credit record. We can assist in removing these listings, where applicable.
How It Works
1
Contact Us
Start by completing our simple online contact form. Provide us with basic information about your situation.
2
Assessment
Our experienced team will review your information and determine your eligibility to clear your name.
3
Pay
Once eligibility is confirmed, you'll make a secure payment for our services.
4
Credit Clearance
We'll handle the entire clearance process, ensuring your credit record is accurately updated.
Why Choose CS Clear? .
With years of experience in credit clearance and prescribed debt removal in South Africa, we help clients restore their financial standing with ease.
What you will get
Expert Knowledge
Efficient Service
Clear communication
Ready to clear your prescribed and improve your credit score?
Contact us