debt help

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. The term can also be used metaphorically to cover moral obligations and other interactions not based on economic value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person.

View More On Wikipedia.org
Recent contents
  1. H

    QLD Can I be Affected by My Boyfriend's Debt?

    Approximately ten years ago, my boyfriend had a car repossessed and was taken to court over the matter. No payments were made and nothing was settled. I was not with him during the time He recently tried to obtain a credit report as we were thinking of applying for a house. Now he is concerned...
  2. S

    WA Property Sold for under Debt Amount - Debt Help Options?

    I ran into trouble with a commercial property as I lost my tenant, due to a slump in the economy of the town. I maintained a high level of communication with the lender during this time and after exhausting all efforts to sell, I voluntarily relinquished the property back to the lender. The...
  3. S

    QLD Recent Separation - Responsible for Debts in Husband's Name Only?

    I have recently separated with my husband and need to know if I am liable/responsible for debts in his name only, including government debts. And can they come and take assets from my home to recover debts after separation?
  4. Cel

    WA Debt Help - Summons for Debt?

    Hi. We need some debt help. We have a customer who owes us 6 months worth of invoices and are just ignoring all our attempts and letters to get the money. Just wondering what is a summons for debt and how do I go about getting it? What do I need to know about getting it? Thank you.
  5. N

    QLD Debt Help - Jointly and Severally Liable to a Debt?

    My question is in a few parts 1. I have signed a document that makes me 'jointly and severally liable’ to a debt of over $400,000 (1 other person also signed the documents). I wasn’t given an opportunity to seek legal advice as the person who made me sign it was a former lawyer from Victoria...
  6. S

    QLD Ex's Debts After Separation - Am I Liable?

    My ex girlfriend cheated on me and moved out. After separation in November last year, she demanded I pay her back full amount of bond ($1400) which I did and she also took various house hold Items like the fridge,couch,TV and washing machine. We had an electricity Bill come in shortly before she...
  7. A

    QLD Gave Significant Amount of Money in Cash - Can I Get Back?

    If someone owes me money 10, 000+ and have given it in cash with no evidence/contracts signed, what leg do I have to stand on getting it back?
  8. S

    QLD Electrician's Account Doesn't Match the Quote?

    I was given an onsite quote for electrical work: Total cost $550 the account received was for $850. When the account arrived there was no mention of the quote or how the final figure was calculated. When I quizzed the account the business replied that there was extra work involved. I was here...
  9. M

    QLD Debt Help - Recovering Personal Loan?

    My husband and I separated last year. Some years ago I wrote two cheques from my personal account for his business totaling $27,000 with the condition he paid it back in November of 2013. No formal documents were drawn up at the time for the personal loan. He stalled and finally agreed to start...
  10. S

    SA Mother's Funeral but No Bill from Funeral Service?

    Hi, I need some information please regarding debt help. It's been over six months since my mother passed away. We are still waiting on the bill from the Funeral Service Company for the casket. We had a lot of trouble with this person and we didn't end up having our mother's funeral with this...
Top Bottom