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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. 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...
  2. 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)...
  3. D

    WA Amicable Separation 6yrs ago - debt accrued post separation who is responsible for what?

    I separated from my husband six years ago and it has been amicable. When I left him he was relatively debt free except for the mortgage on the family home. I have since learnt that he has accrued considerable debt (approx $100K) with no assets to show for it and I'm scared that I will be...
  4. S

    Letters from debt collector on behalf of Insurance company

    My partner accidentally banged her car on our garage door while reversing the car. This happened early July. We are renting out the apartment. We informed the real estate agent, they organized the garage door replacement thru Strata. We were never asked to pay for the damage/ door...
  5. J

    Overseas credit card debt

    Hi, I need advise regarding my credit card debt concern. I am a Vietnamese and I worked in Indonesia for 3.5 years. While based in Jakarta, I had a bank account and a credit card. I paid it on time always. However, due to personal reasons, I left the country and missed out on paying my...
  6. J

    WA Is it worth suing to recover a debt?

    Hello, A real estate agent has been owing my sister a large amount of money for several years now. It was part of a property investment. Basically there was a subdivision and he was meant to pay her the money back. There is a contract stating this. He paid her back a very small sum of the money...
  7. D

    NSW Debt Collection letter from an Australian Agency collecting an Italian traffic fine

    Hi. Today i received a letter from an Australian Debt Collection Agency asking me to pay $672 for a traffic offence 9 months ago in Italy. The letter states that their client has tried several times to contact us to pay the fine. This is the first we have heard of it, but it is possible they...
  8. L

    TAS Access to super and CSA debt

    Hi there We are hoping for clarification please on if CSA will garnish/take all of my husbands superannuation for a csa debt, if he accesses it early due to covid 19? thankyou.
  9. M

    Post seperation debt

    hello Can anyone advise if debt incured after separation can be included in financial settlement. My x has now purchased a new car worth $80,000 and the debt is $97,000 (he got lots of "extras" apparently) and he has included this in the assest/debts spreadsheet as we are doing a financial...
  10. C

    NSW Post-judgment Interest

    I have a post-judgment debt that has remained unpaid for 5 years. Can I get compound interest? I am confused with how the old law on simple interest works with today’s commercial reality....