The issue of a summons for an outstanding debt is usually the easy part of debt recovery. The hard work starts when you have secured a judgment against the person who owes you money.

Judgment

Judgment will:

  • Affect the debtor’s credit rating
  • Remain on the public record for 6 years (unless paid within 28 days)
  • Enable immediate enforcement

Enforcement options

Once you have judgment you have these options:

  • Seize and sell the debtor’s moveable property – Writ/Warrant of execution
  • Get the debtor to tell you more about his financial position – Information Order
  • Get a debt due to the debtor paid to you instead – Third Party Debt Order
  • Take a charge over the debtor’s home, office etc – Charging Order
  • Have the debt paid out of the debtor’s earnings – Attachment of Earnings Order
  • Start Insolvency proceedings – Bankruptcy

Credit checks before enforcing?

Before incurring the cost of enforcement you may want to check the debtor’s financial position again, as far as you can. This would involve getting a credit report and checking that there are no current winding up petitions.This is something we at TM Law can do for you at reasonable cost.