Terms to know if you fall into debt

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Brief explanation of some terms you would prefer not know !

Seizure of Assets by Sheriff (IE County Registrar).
Execution Order is served on the Sheriff directing him to seize goods to the value of the debt.
Rarely successful – thorny question of who actually owns the goods ie wife, parents etc.
Also the goods might be borrowed.

Attachment Order
Debtor obtains an attachment order of Garnishee Order directing that money (ie rent, salary. Pension etc.) to which the debtor is entitled be redirected to the Creditor.

Instalment Order
The Debtor is ordered to file a statement of means in court.
The judge then determines how much the Debtor can afford to pay and orders him to pay by weekly or monthly instalments. If the Debtor defaults, a Committal Order can be obtained whereby the Debtor is imprisoned for breach of the instalment order.

Judgement Mortgage
If the Debtor owns land and buildings, then the Creditor can register his judgement mortgage against the property. He can then apply for an Order for Vacant Possession and a Court Order for Sale.