Debtfree Issue 202402 - DB
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IS IT TIME TO START DEBT REVIEW?<br />
SCARY<br />
LETTERS<br />
Eventually, if the calls, emails and sms don’t get the<br />
response your credit providers want (money) they will<br />
decide enough is enough.<br />
This is when they will send you scary letters that are the final straw,<br />
the final chance to sort things out before they head to court.<br />
The letters will demand you sort things out and mention the National<br />
Credit Act Section 129 (or 130). They will offer you the chance to sort<br />
things out or go talk to a Debt Counsellor.<br />
This really is your final chance to get help before they start legal<br />
action.<br />
These days credit providers have to start legal action or they can<br />
lose the ability or right to collect on the money. This is because of<br />
something called ‘prescription’. They need to collect or lose out. So,<br />
they send you a final warning that they are letting the lawyers loose<br />
on you and taking you to court to get a judgement if you don’t pay or<br />
go into debt review.
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