Loan Expiry And Prescription

In South Africa, including the Western Cape, a debt typically prescribes after three years if no payment is made or acknowledgement of the debt occurs. However, certain debts may have different prescription periods, such as home loans or taxes. Always check the specifics of your loan agreement.

For personal bank loans in South Africa, including the Western Cape, the prescription period is usually three years. This means if no payment or acknowledgment of the debt occurs within three years, the debt may prescribe. It's important to review your loan agreement for any specific terms that may apply.

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To find out if your loan has been written off, you can:
- Contact your bank directly and inquire about the status of your loan.
- Check your credit report to see if the debt still appears.
- Review any correspondence from the bank for mentions of write-offs.
Would you like to know more about how to approach the bank?

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To approach the bank regarding your loan status, consider these steps:
- Prepare all relevant documentation, such as the loan agreement and any previous correspondence.
- Contact the bank's customer service or visit a local branch to discuss the matter.
- Request written confirmation of the loan status.
Would you like more guidance on preparing for your discussion with the bank?

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To prepare for your discussion with the bank:
- Organize all relevant documents, including your loan agreement and any communication with the bank.
- Write down key questions you wish to ask, such as the current status of your loan.
- Consider noting any details that indicate the loan may have been prescribed.
Would you like assistance with anything else regarding your loan situation?

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I'm glad I could assist you, ****! If you have any more questions in the future, feel free to reach out. Good luck with your situation!