QLD Credit Card Debt - Can I be Sent into Bankruptcy?

[steve elraes]

Hi, I have a 30K credit card debt with a judgment against me. I am paying $100 per month. Can I be sent into bankruptcy by the company who purchased the debt?

Thanks

 

[Sophea]

Hi steve,

It depends on the precise terms of the payment plan that you are on with your creditor, but generally a holder of a judgement debt against you can serve on you a bankruptcy notice and if you fail to pay the sum demanded in the notice it is prima facie an act of bankruptcy. Then they can file a creditor's petition to bankrupt you.