Debt

[Spliffcat]

Hi Guys
A friend of mine owes money from 4 years ago no claims have been made, where does she stand now.

 

[Noseworthy]

what is the statuet of limitations? I think it's 2 years. so sorry, it has to be writing off.

I may be wrong

 

[chrisc]

If no summons has been issued within 36 months of the initial debt, it becomes prescribed. If you issue summons and take judgement, this lasts 30 years

 

[Hemi300c]

As long as no acknowledgement of the debt took place and there was no court order 3yrs or it isn't a legislative fine.

 

[Spliffcat]

Thanks dudes much appreciated.

 

[noxibox]

Just remember that if anyone contacts them about the debt they must state that the debt has prescribed. Do not admit to the debt or make any payment.

 

[sal12344]

Just remember if the debt is based on a liquid document, prescription period is 6 years.

 

[Carol35]

Just remember if the debt is based on a liquid document, prescription period is 6 years.

Whats a liquid document?

 

[dreamrobin]

Hi Guys
A friend of mine owes money from 4 years ago no claims have been made, where does she stand now.

Behind bars

 

[Spliffcat]

I wish I could put all the people who owe me money behind bars like the ex girlfriend and a so called friend. R250 k later there is f all one can do.