Prescribed debt resurrected

26 September 2016 - 09:34 By Wendy Knowler

The debt-collecting industry was dealt a savage blow last March when it became illegal for companies to attempt to get someone to pay a prescribed debt. In a nutshell, a debt prescribes if, in the previous three years, the debtor has not made a payment, acknowledged the debt, or been served a court summons connected to it.

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