Our Services
What is debt review removal?
Debt review removal is a legal process where debt counsellors and their legal teams assist clients in withdrawing from the debt review process. The aim is to show that client can manage their own debt obligations or have completed the debt review process and wish to obtain a clearance certificate.
What are prescribed debt removal?
We remove debt that has not been paid or acknowledged for over a period of 36 months, warrants by Act 68 of 1996 that speaks of prescribed debts. Once we have cleared your prescribed debt. You will never be denied access to any financial institution.
Prescribed debt can be explained as old debt that has not been acknowledged over a period of three years.
In other words, if two parties (say, a consumer and a creditor) agree upon a sum of money to be lent and paid back, and neither party acknowledges this again within a three year period – then the sum no longer needs to be paid back. Essentially, when debt prescribes (or expires), it means the debt can no longer be claimed back by the creditor.
Of course, it is not as simple as that – there are quite a few rules and regulations regarding this occurrence.
