P
Legal
Prescribed Debt
Debt that has become unenforceable because the creditor failed to take legal action within the statutory time limit (usually 3 years in South Africa). Under the National Credit Amendment Act, prescribed debt must be removed from your credit report.
Usage Examples
"The store account debt from 2020 has prescribed because the retailer never pursued legal action within three years."
"Prescribed debt should be removed from your credit report — contact the credit bureau if it's still showing."