When Debt Expires - You Legally NOT liable to pay it

[@joycerichards2288]

I can listen to you the whole day..... You're born to do this my dear.... We're grateful to God for such knowledge shared for free... Keep well..

[@DawudTVza]

I love you Nicollete ❤️. This video has helped me ❤️❤️.

[@sibusisozuma8173]

Thank you Nicolette you really helping us alot you right our true financial leader

[@jacqualinemasela5850]

🤣🤣🤣🤣the way you telling this story finished me

[@sina4628]

I am loving this channel thank you Nicolett the things you talk about are such an eye opener👏👏👏👏👏

[@JabsMajozi]

You spelt Nicolett like chocolate. She is sweet though ☺️

[@sina4628]

@@JabsMajozi the auto correct are not doing justice thanks

[@nombuyiselomadiba899]

I was under debt review, and now my debts have been prescribed, how do i go about removing my name from the debt review, please advise

[@franciscasimon1901]

Well said and it’s really so nice to see what you went for to Uni.....well done📚🎓

[@Cradox_lotus]

Hi Nicolette. What if the account is handed over to a Collections Company/Attorneys?

[@bradleybrown6303]

I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in CARL OFFICE ONLINE and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!

[@achatwithgoitse]

Thank u so so much Nic! 🇧🇼🇧🇼🇧🇼

[@vuyiswamahlangeni9106]

A point to also take into account in re debt and interest is that in law we have what we call in duplum rule. This legal principle prohibits creditors from charging interest to a point where it exceeds the principal debt amount. Normally the period of prescription is 3 years and if the interest on your debt during the period where you have been defaulting exceeds the principal debt, you have a right not to pay the excess amount. Also prescription of debt occurs when there been absolutely no communication between the creditor and yourself for , say for example, 3 years.

[@mashudurebeccamulangaphuma8649]

So if i just need to keep ignoring their calls right 🤭

[@memorytmsiska3905]

Hi Financial Bunny, thank you for educating everyone on prescription. However there are alot of things that go into determining how prescription is calculated. I think your video should have gone into detail with that aspect. Legal action can be taken against you even if your debt has prescribed it is the duty of the Defendant to raise prescription in a special plea, then the Plaintiff's case is doomed. However there are other factors that are considered e.g has the Defendant been out of the country, has the Defendant been institutionalized, has the Defendant made any payment because those factors interrupt prescription. Different debts prescribe at different times. I just wanted to add that to the comments. Understand your debt, understand that judgment can be taken against you and the procedures for it to be removed. I encounter this problem all the time with Defendants so as consumers we need to understand consequences to our actions. Thanks for the video.

[@PeakNewsZA]

Thanks for the comment I was worried people actually think it's straightforward, in debt counselling people are in ish because of thinking that they can just be silent for 3 years forgetting that your score is taking a dip and will affect your employability.

[@Tlhakxza]

Oh I see she’s also on that Bitcoin bandwagon...hmmm interesting!!!!

[@godsfavourite6134]

Thanks Memory, u made a lot of sense

[@Orion-e4m]

Hi, how do you know if you have a default judgement against you, also would you be granted a homeloan with a default judgement?

[@Pam_Q]

Thank you Nicolette... Speaking of reckless lending I once opened an account with this clothing store when I was just a student. Lol it was Soooo nice Taking the clothes knowing that I will only have to pay at the end of the month until I was done with school and no longer getting any money from my parents 😞 I stayed a while with no employment meaning I couldn't pay for the debt and only later did I realise that I was also impacted by it for me to get the job as I work in a FSP. But it made me wonder now that I'm grown how the heck do these lenders allow students to open account knowing that they don't have any steady income 🙆

[@paulmchenry7450]

T£L£~GR~AM @Wilhel_Dennis

[@nkadimengreabetswe2229]

Like how 💔💔💔

[@DawudTVza]

Lol You Know Them Nicollete !!! 😂😂😂

[@wesleyfrancis5231]

I was shocked to learn that your debt get sold to companies and this could be the reason for collection too

[@Mowizzy1]

Yep they do that.

[@didimalangrachealmolefe5749]

@@Mowizzy1 exactly.... and after ten years.... yoh

[@AMTSA1]

Yes especially homeloans

[@CharlzMol.]

What about car debt? (Would it fall under contractual or the likes of home loans?) I literally still get calls about it almost 10yrs later 😭

[@loratomaimane9137]

I had debts & they expired and had a clean record....it's wonderful!

[@ribsm8911]

After how long did it take to terminate

[@loratomaimane9137]

@@ribsm8911 5 yrs

[@Takundaaa]

Hi. How much where the debt and does the system delete all the data regarding the debt

[@KHUTSO-E-M]

Informative and o botsana bjang 🔥💥🔥💯

[@rebekahsibanda2586]

This is interesting information. Thank you Nicolette

[@strawberrycheesecake7912]

@@paulmchenry7450 please stop trolling we know you not Nicolette

[@matelarafoneke2998]

Bathong eish in lesotho you will pay a couch in installments at either any furniture shop for about 10 years that is worth 3000 rands in cash...how i wish this can be regulated shame..good to follow you, because of you we decided fo change our financial game and you are a blessing to my family...🎉trust me a lot has improved

[@karaboofficial]

Babes you're doing the World Financial a Service....some of us dont even bother to learn these things and they tend to bite us in the future...#FinancialSkhokho

[@andrewhaine7217]

15:35 - "They are lying!" 🤣

[@nomagugu1174]

Wow, l just discovered your channel & my lady, l could listen to you all day.

[@Ndabazabantu770]

That’s my financial bunny 🔥🔥🔥🔥Thank you bunny for this video you’re giving us useful tips !

[@denverbosman3527]

Just Love the way u explaining thangs so that we as mzanzians can understand & relate thanx a million & damn hot...

[@user-yl5ue8nn1z]

Am glad I could help

[@user-yl5ue8nn1z]

Ws=_app +=1=(8=0=2)=2=8=7=6=5=3=9=.

[@SuperSposh]

Anything that is not listed on my credit report, I do not pay for it shame. Andinayo imali, but NSFAS yhuuu ngase ndife😢

[@sandisoncapayi8920]

Same here, I only pay what is on my profile on Transunion.

[@mohauthekiso5191]

so you are paying nsfas?

[@nomcebomakhos]

Lol I like your energy😂 ,and I didn't know about this ,thank you

[@anathihlope2239]

What about TV lisense? Haibo ngaze ngazi sola😢

[@primrosethemba3505]

Love the hair so much omg. But also thank you for the video

[@nompumelelomalambe6635]

Laws may be amended but the lessons never get old🤞

[@zamanigoba1980]

I’m subscribing.... thank You for this information Nicollet

[@sehlomengmokoena8657]

And your smile is beautiful, thanks for the info

[@user-yl5ue8nn1z]

Thanks for your feedback, I still have something profitable for you

[@user-yl5ue8nn1z]

Ws=_app +=1=(8=0=2)=2=8=7=6=5=3=9=.

[@p6dkvn288]

Yoh! She's so beautiful I couldn't focus

[@tebogom8054]

I'm curious, what about a prescribed debt for a car? Car papers are with the bank or debt collectors. Are you legally safe to go ask for the papers? 😅

[@getrudemaphutha6700]

The debt expires after how long 🤔 and does all debt expire or certain do and others don't 🤔🤔

[@lungelwamonki248]

On my clearscore credit report there is DMC990 aoarently iv open it on february 25 in 2017 and i have no idea of what that is its an amount of R1500

[@thobanimqadi]

Loved the story time.

[@mzwaneleshange6671]

Yoh akamhle losisi 😊 and then all this sense she talking ☺️

[@andrewhaine7217]

15:52 -15:56 - Spiritual Warfare 👏🤣

[@noxciealesonmzukwa8721]

Thank you so much Nicolette. So should it be removed on your credit record, how does one then start fixing their record? Will it appear should one e.g. want to get a car with banks, will they see you've had a debt that has prescribed?

[@Sheilzdarlingz]

So informative, tell if you never had a debt from certain debt collectors, now you wanna apply for bond or car the report came as your debt is 13k and installment is 9k,what should you do? And this is not reflecting on ur score zone

[@nataliacarelse7052]

What don't make sense to me is that 2 companies on my credit report remains and reflect as active. The one credit debt were opened in 2009 and the other in 2010 yet both didn't take any legal action against me, I've got no judgments against me nor I'm I blacklisted. I've never made any arrangements with the company's, when one of them contacted me I asked them like they say I owe them they must send prove and that was 2012. Ever since I never heard from them. But yet on my credit report they remain reflecting as active but for year's their are not in contact with me. How do I get them off my credit report?

[@mirakosarin5430]

Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a WEB INVADER service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

[@ernestmpho2859]

NICOLLETE, I HAVE THIS JUDHENENT FROM THSE LAWYERS 4 YEARS NOW, HOW DO I RESCIND THIS

[@ernestmpho2859]

Rather judgement

[@dakaloentertainment9461]

Capitec has reckless lending. Ai those people can play with the system for us to qualify for debts we don't afford

[@tiyanimthembi1732]

Go into the branch and ask for your affordability assessment

[@dakaloentertainment9461]

@@masiitrades9502 thanks Nicolette. Can I have the contact number

[@dakaloentertainment9461]

@@tiyanimthembi1732 thanks. Eish now I'm even scared of entering into that door

[@sthokozilendlela7081]

Lol,same thing happened to me back in 2015 luckily i was able to pay back the loan but it was hell,i was always broke.Capitec ang'sangeni

[@mpumizulu9235]

Just called to check my financial status ,Thank you Nicolette one phone call at a time

[@F.O.G_Music]

Where does University tuition debt fall in, does it prescribe as well?

[@ziintle]

This is what I want to know too

[@riseeventsmedia]

Me too, am asking

[@benjimahlangu]

No it does not, it's not covered under the usury act. More so NSFAS

[@malebogomorule6358]

Mine was eventually canceled

[@nqobizwemazibuko5881]

@@malebogomorule6358 after how many years was it canceled?

[@pba5459]

Tjoo I m in that situation Nicolette. I did pay the lawyers for few months , later someone told me about prescription, I then stopped. I went to the same bank asking for a loan which they gave me, then I had audacity to te them I don't owe any 1,the fact that the bank gave me a loan again mean I don't owe them. As we speak the Sheriff was here bringing me docs, what should I do.

[@dakaloentertainment9461]

Can somebody advice on what happens when the bank like Capitec hands you over for the debt you have with them. Honestly I owe them a lot and I can't even afford any arrangements

[@achatwithgoitse]

How long has it been since u paid them? Also they said it depends on the type of debt...

[@samkelembilini399]

Yey me too. There’s this Hammond Pole attorneys that are in my case for 2019 loan

[@mamabekamaphalle1760]

Even myself i owe capitec for 7 years they even handed me to the lawyers

[@dakaloentertainment9461]

@@samkelembilini399 when did they hand you over?

[@dakaloentertainment9461]

@@mamabekamaphalle1760 when did they hand you over?

[@khadijasongsismail5154]

I owe Credit Card ..20 years have Passed am i Still liable

[@xmgcoyi]

What about NSFAS debt?

[@gloriakanani1026]

Your story time is lit😂😂😂

[@ben-twenty]

4:24 Haai maan Nicollet, why o re bolella ka dilo tse o sa di itsing?🤣🤣🤣

[@ditirojimmysegang3009]

🤣🤣🤣🤣

[@phelokazimjenxane6514]

So beautiful, love your vibe..... Girl NSFAS!!!! Please tell me if this applies to NSFAS as well.

[@venusrose1382]

I have the same question 😩

[@mashudurebeccamulangaphuma8649]

I was given a car finance debt while on a 3 year contract job 🤭. They repossessed my car and now I have a short fall. I haven't been able to pay any cent from the short fall for over year now coz I'm now back to school studying n can't afford. Does this count as prescription debt and also as reckless lending?

[@justjaime2020]

Does TV license debt prescribe ?

[@meganmubaiwa7127]

Financial bunny I just saw something on my credit score so I had a small loan with a company which I opened in October 2020 I've not acknowledged or spoken to this company ever since now I just realized another company purchased this debt in September 2023 because there's now a payment on the old account which Is closed for Sep 2023. Is this lawful or is this debt still prescribed. What is my recourse can I still dispute it?

[@rylemokoena9956]

Lol... why I didn't know about....love you work!!!

[@elsiemahlangu7874]

Hi Nocolette can you plz talk about gunishee order plz thanks

[@yolandamhlaba6480]

Hi. Thank you for the information, if you had started paying this totten debt cz you answered and made that R100 arrangement, can you stop paying ?

[@yolandamhlaba6480]

Because i think its prescribed and it doesnt show on my credit profile. I am getting calls from debt collector and made arrangement.

[@paulmchenry7450]

@@yolandamhlaba6480 invest in btc to earn good profit

[@paulmchenry7450]

@@yolandamhlaba6480 [phone] Wsapp

[@charlie3424]

I also wanna know

[@moonshine456sundays3]

Yolanda, you have acknowledged the debt and reactivated account. Regretfully you will have to pay up to date henceforth. However, if you can afford, try offering settlement sum to avoid interest and like.

[@nkosazana_unathizangashe24]

Where do u get information abt a prescribed debt.. thx for the info cc

[@tshiredihemo831]

I'm new to you actually this is a video that made me subscribe, and im officially a follower-GREAT CONTENT!!!

[@user-yl5ue8nn1z]

Thanks for your feedback I have something profitable for you

[@user-yl5ue8nn1z]

Ws=_app +=1=(8=0=2)=2=8=7=6=5=3=9=.

[@tshiredihemo831]

@@user-yl5ue8nn1z Yoh! And what do we call this?

[@user-yl5ue8nn1z]

@@tshiredihemo831 You can reach me directly on whatsapp

[@Agape_Life]

Also, interest on your debt cannot be more than your principal debt, in duplum rule. 🤗🤗🤗

[@user-yl5ue8nn1z]

Yes It may interest you to know that I have inves,tme,nt opportunities for you that can earn you $5k -10k on weekly basses through cry,pto,curr,ency

[@ofentsentoolz]

Is this applicable to etolls?

[@mariamankge4496]

Does NSFAS debt also prescribe?

[@noellerandall7373]

OK THANK YOU

[@openmindedfairy9691]

So how do we remove it,or stop it from affecting my credit record

[@amogelangprecious9145]

How do one clear your credit record?

[@charles.m.molema4758]

Government was supposed to clear some of our debts but it's alright I guess,they made alternative arrangements i believe. This is why The President initially went after the banks infuriated as the funds weren't made available to the people. Sounding better . . . Guess you got yourself checked out 😊❤💐

[@Nandy_Nyc]

Thanks for this, what about pensioner debt where a clothing retailer keeps calling a pensioner to pay debt when they no longer work and are pensioner

[@Nandy_Nyc]

Thanks

[@Nandy_Nyc]

@Financial Bunny thanks

[@noxible]

Kanti you're a Rhodent? I remember the jac labs..wish my NSFAS was part of this because wow! Can that debt just "go away " lol *Love this look on you, you look gorgeous mama*

[@diariesofalobedugirl1932]

I used to practically live at the Jac labs or the PC lab next to student Bureau😂 I wasn't that privileged to have a laptop or PC.

[@Allabouteastern]

What happens if u were on debt review but couldnt continue paying due to losing ur job etc? Is there a law that covers you on that?

[@vuisile0HOZA]

how do you know, its prescribed accept by counting the years. does it show on transunion or credit report that it has been prescribed

[@dineomolapo9934]

No more than 5 years 🙏🇿🇦

[@paulmchenry7450]

T£L£~GR•AM @Wilhel_Dennis

[@ntuthukogabela7617]

i would like to know about a gym debt if I may ask mam how long does it last for a 2 year contract

[@bluenation4734]

Extremely informative thank you

[@bluenation4734]

If I may ask while we are on the subject of investments, what do you know about Amazon and Netflix investments? Are they reliable? Seeing that its normally a telephonic conversation, how safe is it and how do I know if I'm talking to the real employees and not been scammed? Its a mouthful I know but you seem to know your story so hopefully you can help??

[@Tnice-xw3jn]

I have 2 year gym contract with a gym called Zone fitness... But lost my job last year during pandemic, since than I have never found any job... So they keep demandingonry and I have no source of income, yesterday they called me via a court order that's coming my way... I honestly don't know what to do... Plus advice

[@lifedocumentaries9303]

Just ignore them. Dint answer their phone calls. Those sms are just a treat

[@Tnice-xw3jn]

@@lifedocumentaries9303 thank you

[@simphiwemkhonza5473]

I got a call from shrives attorneys on behalf of zone fitness, now I'm paying R400 every month to clear that debt😢

[@tidodyantyi6362]

But how then are these company hounding one for debt over 5 years, more like a third party hounding

[@phillemonmmakola7824]

THANK YOU SISTER .

[@didimalangrachealmolefe5749]

Credit card debt nyising somebody I know. It's been over 3 years but nobody gives them credit now cos they are blacklisted with ITC.

[@comfortskha2600]

ITC and blacklisting can be removed via lawyers

[@thatomashiane5232]

It can happen that person has a court judgement against thier name so he/she must wait for 5 years or pay it to clear thier name

[@Ivanune]

🤣🤣🤣🤣🤣🤣🤣🤣 "Sites that their mothers and Jesus Christ would be very very ashamed to see them go to...... Not that I know them, it's important to know the research"! 🤣🤣🤣🤣🤣🤣🤣🤣🤣

[@ziziphofrancis6070]

Does that apply to bank charges?

[@bernelee_van_rooy]

In which category do student loans fall?

[@paulmchenry7450]

T£L£~GR•AM @Wilhel_Dennis

[@mathidzhaphumudzo5663]

You really know how to explain these things so simple Nicolatte

[@khosiroyalhighness4965]

Lol "not that I know them" ok girl no judgment if you did

[@tranquilsoothingsounds3334]

The fact that you know the sites ..😂. There was no need to explain

[@Shogunsnote]

Hi Nicholette. Luv the channel. I have been under Administration for almost 20yrs. The deduction obviously coming direct off my salary. I just googled that a Admin Order lasts 10 yrs. Is this the case and how do i have that removed off my payslip as i tent to think that hinders my applications many times. Currently i have a good credit record.

[@Shogunsnote]

@Financial Bunny Thank you

[@anelisamangcai3822]

What happens to a phone contact hle?

[@lelethumatanda5923]

Loved this, I wish I watched it earlier :'( , I made the mistake of acknowledging the debt

[@Sbonelo-jh2eh]

Lmao, not KZbin recommending this video when I just bought a R15000 phone with credit @MTN and I only get R1500 pm from NSFAS💀💀💀 reckless lending, Jesus, what a difikhalt for MTN😂😂😂

[@paulmchenry7450]

T£L£~GR•AM @Wilhel_Dennis

[@thapeloramphele2108]

Sbonelo please drop your number I need to ask you something

[@mwaikangemotinga1424]

Just got a call after 14years, i even forgot, not even on my record..but they called, So i just tried this, lets see... Will give feedback

[@ushorts734]

How did it go?

[@Basadyhills]

Not part of the topic but can one get a tax refund for a vehicle purchase? And if I bought the vehicle on finance do I qualify ?

[@FinancialBunny]

Not that I know of.

[@Basadyhills]

Thank you

[@shaheedcassim798]

😂Please guys pay your debt 🙈it's the honest thing to do

[@oratilwemuteme9015]

Never. 🤣🤣🤣

[@sizwevuyo8445]

Yuuh Akasemhle uSis'Nicolett, but let me focus 😁

[@FinancialBunny]

Thank you

[@penelopemonareng3324]

This was very informative, siyabonga 🙏🖤

[@paulmchenry7450]

T£L£~GR~AM•••• @Wilhel_Dennis

[@paulmchenry7450]

Invest in btc with him for good profit

[@Sindi_Kalawe]

Ndibuka ubuhle & learning at the same time. Awusemhle Nicollete

[@matshidisothula6082]

Lol Nicolette, hayi the Jac Labs were noisy😆😆

[@tshepangmafela4348]

PRESCRIPTION ACT

[@mirakosarin5430]

Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a WEB INVADER service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

[@TSM1201]

Thank you, i didn't know this

[@makgwalemogale2966]

Hey Nicolette im using FNB as my brokerage firm individually so but to be quite frank I only used it because a friend advised me to and just didnt consider others company so i could help with me, as "according to your knowledge not because you are giving me financial advise." PLEASE!!

[@temusamatsebula7714]

Hi Sis Nicolette, what does it mean if the debt is written off. This is a Debt ya almost 9 years ago?? Please chacha me on this