Debt

[NeonNinja]

If it's older than 3 years and no legal action has been taken - Rescinded? Some guy claiming this.

 

[MickeyD]

If it's older than 3 years and no legal action has been taken - Rescinded? Some guy claiming this.

Prescription of debt...

However it is not applicable to ALL types of debt. That guy must be more specific...

 

[Sinbad]

There must also have been no acknowledgement of the debt in that period.

 

[supersunbird]

Yes, normal debt prescribed after 3 years of there has been no action taken. Some debt, mostly related to government somehow, like SARS debt and such prescribes after 30 years or never.

 

[Sinbad]

Yes, normal debt prescribed after 3 years of there has been no action taken. Some debt, mostly related to government somehow, like SARS debt and such prescribes after 30 years or never.

legislated debt. For example, TV licenses.

 

[airborne]

And things like home loans