Introduction

Written By For Good Digital

A debt occurs when one person (the debtor) owes money to another (the creditor). People can get into debt in any number of ways; for example, they receive regular demands for payment of accounts for such things as electricity, doctors’ fees, loans and credit cards.

If you, as a debtor, receive an account, then ask:

  1. Do you owe the creditor the money? 

  2. Is there any reason why you should not pay the debt? 

  3. Can you afford to pay the debt? 

Introduction

Chapter: 5.2: Are you in debt?

Contributor: Julie Zhou, Barrister

Current as of: 1 September 2024

Law Handbook Page: 298

Next Section: Credit reporting and privacy protection

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