Prescribed debt: A law to help consumers get debt collectors off their backs

In terms of the National Credit Amendment Act, which came into effect on March 13, it is illegal for a company to contact a consumer and demand that they pay a prescribed debt.

This applies to all credit agreement-related debt such as car loans, credit card accounts, store accounts and the like - which constitutes 94% of all debts in South Africa.

A prescribed debt is simply explained as an old debt that has not been acknowledged over a period of three years.

CapeTalk’s John Maytham spoke to Wendy Knowler, Consumer Journalist at Times Media about prescribed debts:

Read the article by Wendy Knowler: Prescribed debt: it pays well to know your rights

Listen to The full conversation on The John Maytham Show:


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