Chero Consulting

20/07/2025

Ever-more aggressive debt collectors in South Africa are coming under scrutiny for their tactics. Here’s what they’re doing …

04/07/2025

South Africans with debt face illegal collection tactics – Daily Investor https://share.google/UGnglfwkyqaIBEmFA

26/06/2025

PRESCRIPTION AS PER THE LAW AND WHEN IT APPLIES AND WHEN IT DOESN'T:

Debt prescribes after 3 years if no interruption occurred.
It may not be sold
It may not be collected upon
It may not be reactivated
Legal action may not be taken

HOWEVER: you have to claim prescription. What the law actually states is that you have to raise prescription. Look at the picture below, it shows you the actual wording in the law.
Debt extinguished by prescription is gone for ever however it is reset when one of the following happens or it stops prescription from running:
if you make a payment even small it resets the prescription date,
if you acknowledged the debt (when someone phones you and you agree that the debt belongs to you) and made a settlement agreement (even if you did not pay anything) it resets the prescription date, meaning it starts afresh.
when legal action was taken by the issue and service of a summons or a judgment granted in a court the prescription of the debt is stayed indefinitely. This means prescription is stopped and doesn't apply.
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30/05/2025

WORD OF THE DAY 🫵💪🙏

22/05/2025

24/12/2024

Thanking you all for your support

02/11/2024

Scary!!

Cyber attackers who claimed responsibility for attacks on TransUnion, Experian, and XDS say they have also exploited security flaws in Sassa to steal social grant money.

02/11/2024

Good morning!!

02/11/2024

53 days to Christmas...enough time to repair your bad credit profile...
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