Glossary
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- Charging Orders
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A Charging Order is a mechanism whereby a creditor can pursue debts that are not being paid as per the schedule imposed by a County Court Judgement.
This type of order provides security for the creditor by using the debtor's assets in much the same way that a mortgage provider uses a house or plot of land being bought as collateral against the sum owed.
The order can only be imposed if the debtor has failed to settle the debt by the agreed date or has missed one or more regular payments.
Charging Order law is complex, with a variety of options available to debtors depending on what stage the proceedings have reached, so for advice pertaining to your individual situation, please contact us.
