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.