26(2) of the Limitation Act 1953 provides that where a right of action has accrued to recover a liquidated debt or other pecuniary claim and the person liable thereby recognizes the claim or makes any payment in relation thereto, the right shall be deemed to have accrued no earlier than the date of recognition or the last payment. The acknowledgment must be in writing and signed by the person making the acknowledgment - S. 27(1) of the Limitation Act 1953. If the debtor settles part of his debt, the limitation period will begin to run from the date of the last payment of the his debt