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Administration order
This is a court order which requires a debtor to pay money to the court, which then distributes it amongst any... -
Assets
Any property or rights which do not inlclude land or interest in... -
Attachment of Earnings
An order which directs a Debtor's employer to regularly deduct an amount from their earnings for payment to the... -
Bailiff
County Court Officer who can serve Court documents and execute... -
Charge
Security for the payment of a debt upon sale of a... -
Charging Order
This is a charge imposed by the court on the debtor's property to secure payment of the sum that is due and also An order directing that a charge be registered at the Land Registry on property owned by a... -
County Court Judgment CCJ
This is a judgment of a county court which orders a defendant to pay a sum of money to a... -
Creditor
A person to whom money is owed by a... -
Creditors Voluntary Liquidation
The most common type of... -
Debenture
Formal debt... -
Debtor
Person owing money to another... -
Execution
Seizure of debtors goods following non payment of a Court... -
Floating Charge
A form of security for a Debt - generally goods or assets rather than... -
Garnishee Order
A summons issued by a plaintiff, against a third party, for seizure of money or other assets which belong to the... -
Guarantee
A secondary agreement by which one person promises to honour the debt of another if that debtor fails to... -
Indemnity
This is a promise by a third party to pay a debt owed, or repay a loss caused, by another... -
Individual Voluntary Agreement
This is an arrangement between the debtor and their creditors to repay a percentage of the debt over the life of the... -
Insolvency
See... -
Joint and Several Liability
Where two or more people enter into an obligation together, joint and several liability allows that the lender or creditor to recover debt from any one of... -
Letter before action
This is a formal letter setting out any debts before going to court, usually sent as a final...
