Does Municipal Debt Prescribed?

The Prescription Act (Act 68 of 1969) stipulates that debt will be extinguished through prescription after a certain period. This is how prescription works in the world of municipal accounts: ... Rates and taxes are only prescribed after 30 years.

How do I know if my debt is prescribed?

You should check your credit report to see if prescribed debt is not reflecting on your credit report. If your credit report shows prescribed debt, then you need to contact credit bureaus.

How does debt get prescribed?

If your credit provider has not made efforts to secure payment, taken legal action, or failed to communicate with you in the prescribed time, the money owed becomes prescribed debt. In other words, it's expired and can be legally written off.