Are you owed money?
Or is someoneclaiming that you owe them money?
The effects of the coronavirus pandemic have resulted in changes in the ability of people to pay off their debts that they owe. In light of this, a number of measures have been introduced to provide relief for those that may be struggling to pay off their debts, and affect the various methods of enforcing debts.
Of these measures, one of particular significance is in relation to making a debtor insolvent, through the increasing of the monetary limits and time to respond to creditor’s statutory demands and bankruptcy notices. The monetary limit for these has been raised from $2,000 to $20,000 and the time to respond has been extended from 21 days to six months.
These measures are all currently due to continue until 31 December 2020.
Should you find yourself in a situation where you require advice in relation to a debt recovery matter, please contact our office on 02 4350 3333 or email email@example.com and our staff can assist.