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Thread: Prescribed debt and Judgement

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    Question Prescribed debt and Judgement

    Hi,

    I have debt dating back to 2006, I drew my credit record last year and saw that it reflected as bad debt written off. I have not had contact with the debit collectors since 2006. The debt was handed over last year it seems to Attorneys and I now see a Judgement was put on my ITC record in 09/2011. Can they get a judgement on prescribed debt and is it still prescribed now that there is a judgement?

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    1. It’s clear that default judgment was obtained against you. Default judgment is granted when a defendant does not file a notice of intention to defend. A judgment is collectable for 30 years but only stays on credit bureaus for 5 years after which it is automatically expunged. A judgment creditor is well within their rights to obtain a garnishee order i.e. debit order against your salary. This is simply done by contacting your HR; The judgment debt will prescribe in 30 years!!
    2. Extinctive prescription does not take place automatically. For certain types of debt if a period of 3 years has elapsed from the date of your last payment, you become eligible for extinctive prescription. Should you not claim extinctive prescription, a creditor is well within their rights to sue out summons, in which case judicial process interrupts prescription.
    3. The best way forward for you, given the fact of judgment is to pay the judgment creditor in full, get a consent affidavit from the creditor wherein they, in the prescribed manner, consent to rescission, you then instruct counsel and have an attorney go to court to have the judgment rescinded.
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