How To Prove Prescribed Debt

How To Prove Prescribed Debt

Are you struggling to prove prescribed debt? Don't worry; you are not alone! In South Africa, many people often find themselves in a situation where they owe a prescribed debt. A prescribed debt is any unpaid debt that has not been acknowledged by the creditor for three consecutive years. You are not liable to pay this debt, and you can easily get rid of it by proving that it is prescribed. However, proving a prescribed debt can be challenging if you don't know how to go about it. In this article, we will take a look at some steps you can follow to prove prescribed debt.

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Table
  1. Gather necessary information
  2. Verify the age of the debt
    1. Tip:
  3. Demand Validation of the Debt
    1. Tip:
  4. Respond to their Validation
    1. Tip:
  5. Get Legal Help if Necessary
    1. Conclusion

Gather necessary information

The first step in proving a prescribed debt is to gather all the necessary information about the debt. This information should include the original credit agreement, any correspondence between you and the creditor, and any proof of payments made towards the debt. You should also keep a record of the date when you last made a payment or acknowledged the debt in writing.

Verify the age of the debt

Once you have gathered all the necessary information, the next step is to verify the age of the debt. As mentioned earlier, for a debt to be prescribed, it must not have been acknowledged by the creditor for three consecutive years. You should, therefore, check the date when you last made a payment or acknowledged the debt in writing and count forward three years. If the debt has not been acknowledged by the creditor during this period, then it is prescribed.

Tip:

Always keep a record of the date when you last made a payment or acknowledged the debt in writing.

Demand Validation of the Debt

After verifying the age of the debt, you can demand that the creditor validates the debt. According to South African law, creditors must provide you with proof of the debt within 10 business days of your request. This includes a copy of the original credit agreement and any other documentation that proves the existence of the debt and your obligation to pay it.

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Tip:

Make sure you send the request for validation via registered mail or email so that you have proof of the demand.

Respond to their Validation

Once you receive the validation from the creditor, scrutinize it to ensure that it meets all the requirements. If the validation is incomplete, or the creditor cannot provide proof that the debt is not prescribed, you can respond by notifying them that the debt is prescribed, and you are not liable to pay it. You should also notify any credit bureaus where the debt has been listed and request that they remove the entry.

Tip:

Keep a copy of all correspondence with the creditor and credit bureau throughout this process.

Get Legal Help if Necessary

If you have followed all the steps outlined above and still cannot prove that the debt is prescribed, you may need to seek legal help. A debt counselor or an attorney can help you to dispute the debt and prove that it is prescribed. They can also negotiate with the creditor on your behalf to find a favorable resolution for both parties.

Conclusion

Proving prescribed debt may seem like a daunting task, but it is achievable. The key is to gather all the necessary information, validate the age of the debt, and demand validation from the creditor. If you follow these steps and still face challenges, don't hesitate to seek legal help. Remember, you are not liable for a prescribed debt, and you have the right to remove it from your credit record.

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