Are some banks making you pay prescribed debt? The Banking Services Ombudsman has been receiving complaints about credit providers misleading consumers into repaying debt that should have been written off because it had been prescribed. Debt such as unsecured loans, vehicle loans, and credit cards can prescribe after a certain period of non-payment.
This means it has expired, and credit providers are no longer allowed to collect it. Reana Steyn of the Ombudsman joins me now for more.
Prescribed Debt | Unfair practices by creditors
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Creditors, Debt, practices, Prescribed, Unfair
- Categories: Debt Mediation
Maybe we should all stop repaying our debt??? Where will this country be when that happens???? So criminals who refuse to repay their debt for long enough get away with it????
Which bank doesn't steal from their customers? It's like government
What about they hand us over to attirneys and we paying off small amounts from our pension
Remember the Acconting firm and Resource managent company that facilitate state capture transactions. Where were they banking those transactions. We are actually living in hell… some in heaven. This is a dirty sick world.
What is prescribed debt to begin with… Capitalism is a big scam. America is printing dollsrs other countries cant.
Debt jubilee and GESARA incoming, QFS will deem banks non relevant
ABSA robbed Me and stole my money.
I have noticed that we hear much about reckless lending by banks very seldom about reckless borrowing by consumers. It seems that some consumers live in a dream world where banks give you money with no prospect of being repaid, a donation in fact. These "donations" are also repeated where a previous outstanding amount is written off by one bank and another "donation" is entered into between consumer and another bank.
give our youth free education pls
the ombudsman are allways on the banks side
big banks are dishonoured stealing
absa,standard bank,FNB is stealing over the yrs from these clients.
yes,standard bank after 5yrs of settlementit happened to me.
Debt is a choice, tax is robbery of your work at gunpoint. The latter is far worse, get your priorities straight.
Debt collectors are wicked, greedy. Scare people off who are I'll informed about their rights. Some of us don't have a fixed income to pay. Bank won't allow bank account to be close, keep saying you can't ???
Banks charge alot of interest. It's sad coz customers pay so mch it takes them time to finish their amount wht was borrowed. It's so unfair.
But why should people not pay back? Just pay what you owe, it's not yours.
Banks are the biggest crooks They are killing me with intrest
What if ypu didnt pay for 5 years ur debt and than u given a judments