Debtor’s statement of financial position

A statement of financial position is a form the debtor fills out in a civil case about money owed.

If you’ve received or been asked to complete this form, it means:

• you’re the debtor in a court or tribunal case, and
• the court or tribunal has ordered you to pay a specific amount to the creditor (the person suing you).

This page explains what the form is, and how to complete and return it.

Financial information required

When completing your statement of financial position, you (the debtor) need to provide information about your:

• assets (e.g. real estate, vehicles, bank accounts, shares)
• liabilities (e.g. loans, other debts)
• income and employment details
• living expenses and dependants
• any other financial information requested in the form.

Purpose of the statement

The purpose of your statement of financial position is to help the creditor:

• clearly understand your financial situation
• assess your ability to pay the debt
• decide the best way to recover the money owed, such as
  • setting repayment terms
  • taking enforcement action, if necessary.

When and how you’ll get the form

After the money order (judgment) is made, the creditor may send you a written notice, which will either:

• include a blank statement of financial position form for you to fill out
• direct you to visit the Queensland Courts website to complete or download the form online.

Your responsibilities

You must accurately fill out the statement of financial position form and return it within the required time frame.

Which form you should complete

If you’re asked to complete or download the form online, use the correct form based on your situation:

What happens next

If the creditor is satisfied with your statement

If the creditor finds your statement accurate and believes you can repay the debt, they may take steps to recover it. For example, they might:

• apply for an enforcement warrant —to legally enforce the money order, which can be done in several ways (e.g. seizing property, redirecting earnings)
• request an order for payment by instalments —requiring you to pay the debt in regular amounts over time.

If the creditor is not satisfied with your statement

If the creditor is unhappy with your statement, they can summon you to an enforcement hearing —for example, if you:

• don’t complete the statement accurately or to the best of your ability
• fail to include all required information
• don’t return it on time.

At the hearing you’ll be questioned under oath about your financial situation and must provide any documents or items listed in the summons.

Interstate money orders

If you were ordered to pay money by a court in another state or territory before moving to Queensland, the creditor can register the order here to enforce it.

Penalties

For not complying

A warrant may be issued for your arrest and you may be brought before the court if you fail or refuse to:

• complete and return the statement of financial position without a lawful excuse
• attend an enforcement hearing when summoned
• answer a question in an enforcement hearing
• satisfy the court with your answers.

You may be found in contempt of court, and face penalties such as imprisonment or being ordered to pay costs.

For providing false or misleading information

Giving false or misleading information in your statement of financial position or during an enforcement hearing is considered perjury.

This is a criminal offence punishable by up to 14 years in prison.