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. 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...
  2. 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...
  3. 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
  4. 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...
  5. 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...
  6. 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)...
  7. 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...
  8. 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...
  9. 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...
  10. 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...
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