Judgement+debts posts on ArticleSnatch.com-visualboyadvance

Judgement Debts And Its Effect On Credit Scores Posted By: Frank Zelasko Definition of a Judgement Debt If you ("the debtor") owe a person or a company ("the creditor") money and fail to repay that money by the agreed due date, the creditor can apply for a court or tribunal order demanding that you repay your debt. An order made by the court or a tribunal is called a judgement debt. Before understanding the consequences of judgement debt in detail, you need to understand the exact meaning of court judgement. Definition of a Court Judgement A court judgement is a legal order that makes a person or organization liable for the amount of money. If you owe an amount of money to another person, they have the option to commence legal proceedings in an attempt to recover the amount outstanding.


Judgement debts Paying Your Judgement Debt Posted By: Andrew John What if you do not have the money to pay a judgement debt which has been ordered by the court. This is not unusual in these difficult times but will you be given time to pay? A court has the power when giving judgement to order payment by instalments or at some later date. The Civil Procedure Rules provides (CPR 40.11) that: "A party must comply with a judgment or order for the payment of an amount of money, including costs, within 14 days of the date of the judgment or order unless the judgment or order specifies a different date for compliance, including specific payment by instalments." This would seem simple and straightforward enough and give the judge an absolute discretion to set a time scale which would allow the losing party to pay by instalments and thereby avoid bankruptcy or a winding up order. Unfortunately however it is not the end of the story as a recent case has shown. In the case of ‘Amsalem’ the judge held that the courts discretion when making orders concerning the payment of judgement debts must be exercised in accordance with CPR 70.





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