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Thread: Debt: Legally cancelling a debt over 3 years old

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    Diamond Member Vanash Naick's Avatar
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    Debt: Legally cancelling a debt over 3 years old

    1. Are debt collectors hounding you by post and/or telephone for debts older than 3 years?
    2. Law students at an advanced stage of LLB studies have a legal way based on the law to have such debts cancelled!!!!!
    3. You will be provided with a letter stating certain sections of a certain Act that you can either post, email or take personally to the debt collector or the creditor i.e. bank or store
    4. The law offers you a duel guarantee a) The creditor is obligated by law to cancel the debt, b) The creditor does not cancel the debt but sends you summons, this very act will become your defence
    Eg.On 1 August 2008 you entered into a cell phone contract with xyz cell phones. You pay until 1 July of 2009, and then for whatever reason, you stop paying, The creditor has from 1 July 2009 up to and including 1 July 2012 to collect this debt from you failing which the debt can be cancelled by following a specific legal procedure.

    Invitation to take part in a survey: Fill in PDF questionnaire
    1. Preliminary research that I have conducted has demonstrated that many people are unaware of their rights regarding extinctive prescription claims. I have also established that certain creditors donít have policy documents on extinctive prescription. I further established that there is a great deal of uncertainty from both debtors and creditors as to how extinctive prescription should be claimed and whether there is a difference between an extinctive prescription claim and a special plea of prescription. There is also unpredictability as to how a creditor may respond to your your claim. It doesnít help to have a law and that law doesnít work!!!!!
    2. I believe that a section should be added to that act which places a lawful obligation on the creditor to process a debtors prescription even where the debtor has done so telephonically and confirm the same in writing.
    If you would like to take part in this survey, kindly send a blank email to vanash.naick@gmail.com with the subject survey. I will then send you a pdf fill in form, you select your answers, save it and then email as a pdf attachment to vanash.naick@gmail.com
    This is a good cause!!!
    Kind regards,
    Vanash Naick
    Last edited by Dave A; 15-Jul-12 at 07:19 PM. Reason: per poster's request

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    Hi Viny,

    What happens when a debt is bought from the creditor by the so called debt collectors? Does the 3 year period apply from the original date of debt or from the date of purchase by the debt collector? Not sure if i make sense.

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    Site Caretaker Dave A's Avatar
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    It seems this is what you get for your R400.00:

    3. You will be provided with a letter stating certain sections of a certain Act that you can either post, email or take personally
    Or you could send them a link to this thread.
    The trouble with opportunity is it normally comes dressed up as work.

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    nipole (11-Apr-13)

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    Diamond Member Vanash Naick's Avatar
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    Hi Modise,

    It applies from the original date of debt! It is imperative that I make the following clear: The Act/legislation/statute applicable is the prescription act 68 of 1969. That being said, the creditor will not make you aware of this and will try and trick you so that the prescription period can start all over again. The most common ways they do this, is to get you to acknowledge the debt, i.e. say that you unemployed and will pay someday. Prescription will then run from the date you state this, also, if you make arrangements to pay, prescription will be interuptted and run from that date.
    Bear in mind there is a very specific legal way to claim prescription!!! The fee mentioned includes not only giving you this very specific legal letter but also saving this letter as a pdf file on a disc for you so that you can also email it as an attachment. In all the cases we dealt with, the creditor immediately cancelled the debt and updated there records.
    Last edited by Dave A; 20-Feb-12 at 07:42 PM.

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    Diamond Member Vanash Naick's Avatar
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    Hi Dave,

    The following is given:-
    1. A Detailed letter claiming prescription in terms of the Prescription Act;
    2. The letter saved as a pdf file on a disc so that you can also email it as an attachment to the creditor
    3. Attorney's normaly charge R2000 for this service, but becuase we are law students our price is reduced

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    Thanks Viny.

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    Hi Viny.
    I sold my house when I was in financial distress almost 4 years ago and was left with a shortfall amount. The bank never attempted to collect this and I am sure this over the 3 year period. If I use your services and letter could this debt be cancelled.

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    If a debt collector attempts to "trick" you into a new prescription period can you use your letter to still cancel the debt?

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    Diamond Member Vanash Naick's Avatar
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    Indeed you can! Most commonly, the creditor via an attorney will attempt to get you to acknowledge debt or make payment arrangements. Whilst these factors do cause prescription to start all over again, it is a material fact that debt collectors such as mbd, vvm, norman bisitetc donot record their telephone convesations and the person who phones you is not an attorney!

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    Site Caretaker Dave A's Avatar
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    If anything that has prescribed arrives in writing, just write the word Prescribed in bold letters across the statement/bill/demand/whatever and post it back to the sender.

    If it's a phonecall, tell them to send you a letter setting out their claim. Then refer to the first paragraph.
    The trouble with opportunity is it normally comes dressed up as work.

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