Debt prescription means a debt becomes legally unenforceable after a certain period without acknowledgment or payment.
Key prescription periods:
• Most consumer debts: 3 years
• Home loans and debts with court judgement: 30 years
• SARS debts: 15 years
For prescription to apply:
• No payment has been made on the debt
• You haven't acknowledged the debt in writing
• No court summons has been issued
• The full period has passed since the last payment or acknowledgment
Warning: Making any payment or acknowledgment restarts the prescription period. We can check if any of your debts may be prescribed.