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What is Prescribed Debt?
When Do You No Longer Need To Pay?
The Daily Voice conducted an interesting Facebook live chat with Moeshfieka Botha about debt, and in particular prescribed debt.
Some debts prescribe or lapse and no longer even need to be repaid if the creditor does not try to collect them for a certain time period (eg. 3 years). In the interview, Moeshfieka helps explain what types of debt can lapse or prescribe and what consumers should know about dealing with such debts.
You can also find out more info about this and other topics on Moeshfieka’s site:
Money with Moeshfieka www.moneywithmoeshfieka.com
For more info about the daily voice head over to: www.dailyvoice.co.za
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