debt

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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. B

    Debt of deceased with no will

    My father passed away a couple of months ago now. I want to finalise his services such as email, phone, etc but there are a couple of complications. He had no will and no estate. He has a loan for an amount I do not know as well as a bill with his internet provider. I would like to know if I...
  2. B

    QLD Deceased with no will and debt

    My father passed away a couple of months ago now. I want to finalise his services such as email, phone, etc but there are a couple of complications. He had no will and no estate. He has a loan for an amount I do not know as well as a bill with his internet provider. I would like to know if I...
  3. 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
  4. 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...
  5. 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...
  6. 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...
  7. 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...
  8. 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...
  9. 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
  10. 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...