13/01/2026
What is Prescribed Debt?
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 agree upon a sum of money to be lent and paid back, and neither arty acknowledges this again within a three year period - then the sum no longer needs to be paid back. Essentially, when debt prescribes, it means the debt can nolomger be claimed back by the creditor.
You need help on removing debt on your credit profile? Feel free to contact us
