In terms of the South African credit law most debts will expire or prescribe after a three-year period, if the consumer did not interrupt this prescription period by acknowledging the debt and by making payments toward such debt or arrear accounts within this three-year period.

This means that the debt or arrears owing in terms of these “old” accounts can be written off as a result prescription. The status of such account can be updated on the consumer’s credit profile and at the respective credit bureaus to no longer reflect as a negative account or listing, which in turn will significantly increase the consumer’s overall credit score.

We offer legal assistance with the process of writing off prescribed debts and to update the status of such prescribed accounts on a consumer’s credit records at the registered credit bureaus to no longer negatively reflect on their names.