Promissory notes fail to stop bankruptcy move

  • A Raetihi woman who battled with the bank over being allowed to use promissory notes to pay her credit card debt has been bankrupted.

Debra Donaldson, a mother of nine, went to the High Court at Whanganui over the issue, insisting her use of promissory notes to pay her debt to the BNZ bank was legal and above board.

Mrs Donaldson, who lives on a rural Raetihi property, has been researching the Bills of Exchange Act of 1908 – and in particular the use of promissory notes as legal tender.

 

READ MORE VIA THE WANGANUI CHRONICAL

PN

BANKRUPT: Debra Donaldson may appeal the decision to bankrupt her.

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