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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.

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  1. S

    QLD Child support debt recovery

    Child support debt recovery question please. I am currently owed nearly $30,000 in child support and it is increasing at the rate of $30,000 a year, CSA were collecting the money from the paying parents wages. The paying parent has disappeared, possibly out of the country, he has nil assets on...
  2. S

    TAS Forced repayment of debt

    Hi, Sorry this is going to be a long one, I will try to keep it as short as possible. We lent a family member $100,000 (+10% interest), this was due to be paid back last November 2021 - here we are today, and they have only paid back $27,500.00. The family member is in the middle of a...
  3. T

    VIC Debt owed to company currently in process of being struck off by ASIC

    There is a debt currently owed to a company in the way of outstanding rent (deferred rent due to pandemic) on a commercial lease. This company is currently in the process of being struck off by ASIC (voluntary strike off by directors) as they have sold the commercial premises and the creditor...
  4. S

    NSW can I be held liable for anothers debt?

    Hi, due to mental health and terminal illness I am assisting a family member with sorting out some complex legal/debt issues. If I make a payment on their behalf can I then be made liable for the remainder of the debt? this debt is large, and has gotten out of control due to a long standing...
  5. M

    NSW Debt Recovery

    Is thare any way a creditor in the UK can recover a debt owed by an Australian company. I believe they are based in Sydney.
  6. U

    Can I refuse to pay debt collectors administration fee?

    Hi, we received a parking fine letter. It was from a hotel (what a shitty hotel, we had a meeting there, but apparently didn't validate the parking correctly), but it looks like they already passed it to a debt collector company who added a significant admin fee on top of it. We emailed the...
  7. hoppy

    csa debt and inheritance.

    Hi , my daughters child support was cancelled over 4 years ago due to her being over 18 , i know 4 years ago i had some arrears but haven't heard anything about it , im about to get an inheritance , will this debt be chased up or is it written off....Any help appreciated thanks.
  8. L

    Am I liable for this debt?

    In Nov 2021 I went bankrupt. I live in SA. There were couple of debts I left out thinking i could handle them, but i couldnt and i kept using them. So beginning of this month i added them to my bankruptcy which you can do, so i did. Would those 2 debts go under the Nov 2021 bankruptcy or...
  9. Student911

    NSW Debt without contract or paperwork!

    I am an international student who got a loan from my ex girlfriend when we were in a relationship without any contract or paperwork! I have been trying to pay back little by little through instalments but it has slowed down recently due to covid and all! Now she is threatening me with getting...
  10. ashwalk

    QLD Credit Corp Debt Recovery

    I am an Australian Expat living overseas since 2016, I believed that I had paid off all of my debt in Australia in 2017 including credit cards, and had stopped receiving any statements from the credit card company (I had been receiving regular monthly statements up until then). I have recently...