Victorian Current Acts

JUDGMENT DEBT RECOVERY ACT 1984 - SECT 7

    (1)     A judgment debtor or a judgment creditor may at any time after judgment is given file with the proper officer of the court an instalment agreement entered into by the judgment debtor and the judgment creditor.

    (2)     An instalment agreement shall—

        (a)     be in or to the effect of the prescribed form;

        (b)     be executed in the prescribed manner;

        (c)     specify the amount of the judgment debt then owing to the judgment creditor;

        (d)     specify the amount of each instalment proposed to be paid and the times at which the instalments are proposed to be paid in satisfaction of the amount of the judgment debt so specified; and

        (e)     contain an undertaking by the judgment debtor to pay the judgment creditor the amount of the judgment debt so specified by the instalments and at the times so specified.

    (3)     The proper officer of the court upon receiving an instalment agreement shall order that the judgment debt or the balance of the judgment debt then owing to the judgment creditor be paid by the instalments and at the times specified in the agreement.

    (4)     The proper officer of the court shall cause the judgment debtor and judgment creditor to be notified of an order under subsection (3).