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Debt Settlement Process
When attempting to settle a liability by way of A4V do we have to spell it out to the banks and service providers what they need to do to settle the debt?
I’m writing to Westpac and advising them that they are in dishonour for not returning my Money Order to me and therefore my liability to settle the debt is now discharged by their default.
Is there a “procedure” I can refer to to put in my letter to tell them how to settle the debt (like they must now present the Money Order to the ATO or something like that)?
I’m writing my letter in a step by step form, spelling out the BOE Act Sections relevant to their default, just in case they didn’t know. I’m assuming “they” know the procedure required to settle a debt, but I just wanted to be a PITA and spell it out for them so they can see that I know what I’m talking about and that I am holding my position!
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1 Reply
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They know what to do. It’s probably best not to spell it out to them as they don’t like that sort of thing going on the record and they may see you as a danger to them and come down on you harder. It’s probably best just to reiterate what you have done and stick to the formula for dishonours
