by Sulla  16/10/2016  398 Page Views
0 Comments  Self-managed super funds, superannuation, wealth management
Hello all.

I have an issue with an alleged credit card debt where it has been claimed that the original credit provider has the right to assign the debt based on s134 of the above Act..
S134 states:

Legal assignments of things in action

Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal thing in action, of which express notice in writing has been given to the debtor, trustee or other person from whom the assignor would have been entitled to claim such debt or thing in action, shall be and shall be deemed to have been effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice—

        (a)     the legal right to such debt or thing in action;

        (b)     all legal and other remedies for the same; and

        (c)     the power to give a good discharge for the same without the concurrence of the assignor:

Provided that, if the debtor, trustee or other person liable in respect of such debt or thing in action has notice—

        (a)     that the assignment is disputed by the assignor or any person claiming under him; or

        (b)     of any other opposing or conflicting claims to such debt or thing in action—

he may, if he thinks fit, either call upon the persons making claim thereto to interplead concerning the same, or pay the debt or other thing in action into court under the provisions of the Trustee Act 1958 .

Nos 3754 s. 135, 4602 s. 2(7).

S. 135 amended by Nos 6455 s. 2, 7231 s. 4, 9427 s. 6(1)(Sch. 5 item 147), 119/1986 s. 142(Sch. 2 item 10), 57/1989 s. 3(Sch. item 166.6), 81/1989 s. 3(Sch. item 43), 83/1996 s. 40. "

My question is:

Does the Property Law Act 1958 (VIC) apply to alleged (and disputed) credit card debt?

Many thanks for this great Forum.