The age of an account alone does not answer that question. B.K. Credit Solutions helps consumers organise the records, identify the relevant facts and follow the appropriate dispute or referral process.
Prescription is a legal time limit that may prevent enforcement of certain debts once the applicable period has passed. For many ordinary unsecured consumer accounts, the period is generally three years from when the debt became due—but only if it was not interrupted. Different rules and longer periods can apply to other debts.
Section 126B of the National Credit Act restricts the sale, continued collection or reactivation of qualifying credit-agreement debt that has been extinguished by prescription. Eligibility must still be established from the facts and records.
All three areas can affect whether prescription has completed or was interrupted.
A payment made during the relevant period may interrupt prescription and cause a new period to begin.
A written or verbal acknowledgement of liability may affect the calculation, including an agreement or promise to pay.
A summons, judgment or another qualifying legal step may interrupt prescription or place the debt under a longer period.
The following examples are a guide only; an individual account must be assessed on its own records.
| Example debt category | Common period | Important consideration |
|---|---|---|
| Personal loans, credit cards and retail accounts | Generally 3 years | Usually applies to ordinary unsecured claims where no interruption occurred. |
| Mortgage-bond debt | Up to 30 years | It should not be assessed using the ordinary three-year assumption. |
| Debt confirmed by a court judgment | Up to 30 years | The judgment and enforcement history must be checked. |
| Tax, municipal and other specialised debt | Different rules may apply | The governing legislation and nature of the charge must be established. |
Our role is to assess, organise and guide—not to promise an outcome before verification.
Examine the credit report, statements, collector correspondence and available agreement records.
Identify when the amount became due, the last payment and any acknowledgement or arrangement.
Look for notices, summonses, judgments or other information that may affect prescription.
Help organise a written query or bureau dispute and refer contested legal matters where appropriate.
Request an assessment and bring any statements, messages, credit reports or legal documents available to you.
BK Credit Solutions provides practical, confidential support to help individuals understand their financial situation, manage debt and work towards greater financial stability.
Feel free to contact & reach us !
