Debt

  • 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...
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