Tag ArchivesPrescription

Service of a letter of demand, does it interrupt prescription?

Introduction Prescription of a debt can be described as “old debt” in which creditors may not institute legal proceedings to collect monies owed to them, by law. The Prescription Act provides that the period of prescription is a period 3 years in respect of an ordinary debt. In certain instances, prescription may be interrupted in […]

Read full story

So, you owe the taxman?! For how long can you be held liable?

Introduction One of life’s few certainties is the payment of taxes. Bearing that in mind, we should ensure that we never find ourselves in a predicament to have an outstanding account with the taxman in the first place, which of course, is sound advice. In cases of liquidation, we know that the South African Revenue […]

Read full story
Prescribed Debt

Reviving Prescribed Debts

In terms of the Prescription Act 68 of 1969 most debts prescribe within three years. It seems obvious that once a matter has prescribed, that is where it ends. The problem starts where the Debtor has no idea the debt has prescribed and continues to make payment or signs an Acknowledgment of Debt and thus […]

Read full story
small business

The Star – Your right when facing old debt

Read our feature in The Star Newspaper, published on 20 May 2016. There are many medicines. Certain medicines are popular. Other treat peculiar ailment like Lupus nephritis. DIFLUCAN, one of of a new group of triazole antifungal agents, is available as a powder for oral suspension. There are numerous drugs for each afflictions. If you’re concerned […]

Read full story

The Star – The perfect prescription

Read our feature in The Star Newspaper, published on 1 April 2016. There are many medicines. Certain medicines are popular. Other treat peculiar ailment like Lupus nephritis. DIFLUCAN, one of of a new group of triazole antifungal agents, is available as a powder for oral suspension. There are numerous drugs for each afflictions. If you’re […]

Read full story