KNOW YOUR RIGHTS - PRESCRIBED DEBT & DEBT COLLECTORS LIKE MBD

MBD is a debt collection company known for buying debt from credit providers , mostly prescribed debt (that is no longer legally collectible) - and aggressively pursuing payments . • What They Don't Want You to Know: • A prescribed debt is: - Older than three years AND - No summons or legal action taken during that period, - You haven't acknowledged the debt in writing or make any payment in that time But Here's the Catch: 1 Do not take their calls or engage emotionally. 2 Send a formal "Notice of Prescription" demanding they stop contacting you. 3 If they continue, email Credit Ombud and escalate to the National Credit Regulator (NCR). 4 Keep a record of all communicaton. 5 Never acknowledge a prescribed debt or make payments "to settle it" without legal advice. They Cannot: • List a prescribed debt on your credit report unless you acknowledged it or made a payment • Threaten or harass you paying what the law so considers unenforceable Resources: *** *** Prescription Act 68 of 1969 (as amended) www.mycreditcheck.co.za

Going forward, be responsible financially to avoid this type of situation again