| Third Party Debt Order FAQ |
| Tuesday, 07 August 2007 06:37 | |||
Why can my creditor claim a Third Party Debt Order on my accounts? Your creditor can ask the courts to freeze your bank or building society accounts, either after you have failed to make the agreed payments to a CCJ or you have missed one or more instalments. Does my bank have to tell them all my details? Yes, your bank or building society will have been served an order by the courts to which they must comply. Can they do this even if I disagree to it? The Third Party Debt Order will have been served on your bank or building society 7 days prior to you being notified. This is to stop people withdrawing all their funds. You can however object to the order by writing to the court no less than 3 days before the hearing. Will they be able to take all my money? Once all the information has been received from both parties the Judge will make a decision whether to grant a Third Party Debt Order. This will also be dependant on there being sufficient funds frozen. I have a joint account with my partner - can they take funds from it? Only if the debt is held in joint names, otherwise they can not touch it. My Third Party Debt Order has left me with no money for day to day living costs. What can I do? You will need to apply to the court for a Hardship Payment Order; this will only be awarded if you can prove to the Judge that you are genuinely unable to cover living expenses. What will happen to my salary which is due to be paid next week? Your salary will be untouched as a Third Party Debt Order can only freeze assets in the account on the day of the order. My Third Party Debt Order hearing is to be held in another town. Do I have to travel there? You can request the hearing to be heard in a court nearer to you. Do this by applying to the court where the Third Party Debt Order has been filed.
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| Last Updated on Wednesday, 12 September 2007 00:09 |