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Everything you need to know about prescribed debt

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Cape Town - Debt doesn’t last forever. If a credit provider doesn’t claim payment on a debt, it will eventually fall away.

But when does a debt become prescribed? How long will it remain on your credit record? Can a prescribed debt be reactivated? And what should you do if someone demands payment on a debt you thought had prescribed? Summit Financial Partners has the answers.

When does a debt become prescribed?

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