• Discharging Liabilities (Debt)

  Promissory Note process – Affidavit (of payer)

  Posted by rtw711 on September 16, 2023 at 4:22 pm

  From the Promissory Note (PN) Module, how would one complete the following in the Affidavit (of payer) where:

  Company L (“Lender”) – provides the finance for loans (e.g. personal loans, home loans)

  Company M (“Manager”) – manages Company L’s loans. Customers/clients with loans from Lender only ever deal with Manager, company M.

  1. Affidavit of payer – Promissory Note (PN) Module

  In The Matter Of:

  Payment of alleged debts to Commonwealth of Australia by <Name>

  Re: Discharge of liability to pay alleged outstanding debts to Commonwealth Bank of Australia ABN 48 123 123 124 for SVR Investment Home Loan Account numbers <no.s 1, 2 and 3> by delivery of “promissory notes” numbered PNJHS270320191035, PNJHS270320191040 and

  PNJHS270320191045 respectively.

  1.1 In the above example, in the 1st line “Payment of alleged debts to Commonwealth of Australia by <Name>”, what is “Commonwealth of Australia” referring to? The bank, or the Commonwealth?

  1.2 Would you modify:

  “Re: Discharge of liability to pay alleged outstanding debts to Commonwealth Bank of Australia ABN 48…..” to include both Lender and Manager companies as follows:

  “Re: Discharge of liability to pay alleged outstanding debts to Company L ABN 55…. for Company M (ABN 55 …..) Loan Account numbers <no.s 1, 2 and 3> …..”? Is this correct?

  • This discussion was modified 1 year, 9 months ago by  rtw711.

  rtw711 replied 1 year, 9 months ago 1 Member · 0 Replies
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