Hi, if a debtor (pty Ltd company) cannot afford paying a debt, does the debt has to be forgiven even though a court judgement is obtained? Is there anyway we can find out their ability to pay before commencing court actions?
The debtor/company is not listed on ASIC for undergoing administration or insolvency, however it has poor credit rating. The company director & most of his companies are currently being taken to the local court for criminal cases listing as Commonwealth Offences.
Many thanks!
The debtor/company is not listed on ASIC for undergoing administration or insolvency, however it has poor credit rating. The company director & most of his companies are currently being taken to the local court for criminal cases listing as Commonwealth Offences.
Many thanks!