debts

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

    QLD Claim Compensation for Emotional and Physical Abuse from Ex?

    Hi, I'm currently seeking compensation from my soon to be ex-husband. Before we got married (already engaged) I had been subjected to on multiple occasions, emotional abuse in the form of threats that include physical abuse. 4 Weeks before being married, I found out that I was pregnant which I...
    • Cayne
    • Thread
    • alcohol car loan compensation debts drugs personal loan police university
    • Replies: 1
    • Forum: Other/General Law Forum
  2. nic3113

    NSW Debt - Can Selling House Stop Bank from Repossessing the Property?

    We have a business debt which we haven't been able to pay off yet because we are paying off another debt. Can putting your house up for sale stop another bank from repossessing it? I've been told by an advisor that by submitting a form 6 selling my house on the proviso that upon sale of the...
  3. P

    QLD How to Get Partner to Contribute to Debts?

    T's partner organised on the quiet to leave Australia, and returned to his home country, NZ. After numerous times of her trying to be amicable, he has refused to fix their unfinished home, to which he started to renovate under his builder's licence. T has recently found out his work is of some...
    • pix1
    • Thread
    • builder child support debts family law financial hardship
    • Replies: 3
    • Forum: Family Law Forum
  4. xxshellsxx

    SA Executor of Will Sold Inheritance Without Consent - Options?

    Hello. My father died in September 2012. In his Last Will and Testament, my father left the rest of his estate (residuary estate) to both my brother and myself equally. My dad appointed his daughter, from a relationship prior to marrying my mother (related by genetics only really as my Dad's...
  5. A

    NSW Executor of Will - Do We Need to Apply for Probate?

    Good evening My mother-in-law recently passed away and nominated my husband as executor of will. She had $800 in the bank - furniture of no value - no vehicle and was a tenant. Her debts far exceed her bank balance. What do you suggest we do in dispersing what money she did have and do we need...
  6. A

    QLD Possibly Declaring Bankruptcy - Fiance Liable for Past Debts?

    I currently have large debts which I can't repay and looking at the possibility of declaring bankruptcy. I am wanting to get re-married soon. If I do get re-married, is my future husband going to be liable for the debts from my past? i.e. Can they take his cars that are in his name and have...
  7. Bevlee

    QLD Accountant During Bankruptcy Taking Me to QCAT

    I declared bankruptcy, which ended last December. During the bankruptcy time an accountant who had been appointed by the court to manage my company didn't charge for 11 months of his services, unbeknown to me. I never received an invoice until 12 months after he was no longer managing the...
  8. B

    SA Bankruptcy - Will it Affect My De Facto Partner?

    Hi, After a series of unfortunate events I am considering filing for bankruptcy. I have looked at the forms & one of the questions is - Do you have a spouse & what is their income? I am in what is classified as a "De Facto" relationship which I understand comes under the term "spouse" for the...
  9. B

    How To Recoup Court Ordered Debt?

    A number of individuals have paid deposits to a business operator to have goods manufactured, which have not materialised, resulting in cancelled orders, and demands for deposit refunds. These cases have gone to the Magistrates court and had awarded judgements in favour of the plaintiffs...
Top Bottom