When does a debt prescribe?

Under the Prescription of Debt Act, a debt prescribes (falls away) after three years in most instances if the creditor has made no attempt in that time to communicate with or retrieve the debt from the debtor. However, if you are a debtor, don’t assume that, simply because the creditor has not communicated with you for three years, your debt has prescribed. You may have changed your address or other contact details and not informed the creditor, or the creditor may have resorted to other means such as obtaining a judgment against you to retrieve the debt.