debt

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. C

    NSW Body corporate incurring debt

    I have had body corporates incurring debt in my name for works in my units without consulting me and then making out I owe them money. Most of it is really whacky stuff they cant even explain. I do not live at either property. Can they incur debt in my name without my authority
  2. Reza1991

    VIC Pay dispute and debt collectors

    Hi forum! I’m new here. But I would really appreciate your expertise and legal advice regarding the following situation. I was an independent contractor that was let go from the old job. Because I didn’t want to receive a pay cut. Once I left I didn’t receive my last months pay because they...
  3. G

    VIC Debt Recovery

    Hello About 12 month ago i attempted to send $4500 from Australia to Vietnam. My first 2 attempts showed insufficient funds or amount above my daily limit My third attempt was successful I immediately recieved a call from western union asking for what reason i had sent the money $4500 to...
  4. C

    NSW Acting on an unpaid debt

    Hi Everybody, Just looking for some guidance on how to navigate the process of enforcing payment of an unpaid debt. I'm sorry for the long-winded post but more information is better than less. I'm sure the problem is quite common. Firstly, I'm a one man company with an engineering consultancy...
  5. EmmaLouise1

    SA Speeding fine debt forgiveness.

    Somebody I know has speeding fines of over $30000 left to pay, as he does not earn alot of money, he has a payment plan organised for $50 a fortnight, paying off $1300 a year. he got these fines a long time ago, and was actually jailed for driving offences and since then, learnt his lesson, and...
  6. EmmaLouise1

    SA Speeding fines so large under a payment plan they will never be paid back, can they be forgiven?

    Somebody I know has speeding fines of over $30000 left to pay, as he does not earn alot of money, he has a payment plan organised for $50 a fortnight, paying off $1300 a year. he got these fines a long time ago, and was actually jailed for driving offences and since then, learnt his lesson, and...
  7. D

    Legislation for halting givernment debt while legal challenge?

    Would anybody know what piece of legislation is used to justify the halting of all debt or fines to be paid to the government while a legal challenge is going on? Any references would be much appreciated. Thanks
  8. C

    NSW How does debt recovery agent track you down?

    Hi, Just curious how a bank/debt collection agency can; 1. Find out where your employment is located - court order to garnish wages etc? 2. Issue a court notice with no fixed address, ie you will never receive the letter in the post? 3.Money cannot be garnished on any joint accounts with banks...
  9. Modais02

    VIC Very old debt

    Back in 2002 I had a phone bill with Telstra I was unable to pay . The debt was sold to credit corp by the end of that year . I recently did a credit check to find that I have a listing for credit corp every year since up til Feb 2020 . I have an 18 year old debt that was less then $800 in 2002...
  10. J

    NSW Superfund, overseas and debt

    Hi there, I'll keep this short since who needs a big story? I had a loan left to repay of 7k from one bank in Australia nearly 3 years ago. (lost card while overseas, didn't report missing and just decided to stay a few years and work overseas and use cash to get by until I return to aus)...
Top Bottom