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Attachments & Arrestments

 

Earnings Arrestment

Regular payments are calculated and deducted from a Debtor’s salary in satisfaction of the debt.

Bank Arrestment

Money in the Debtor’s account(s) at the time of the arrestment being served on the institution are frozen.  Banks are required to freeze either (a) all of the money in the bank account or (b) the full sum of money sought in the court action, whichever is the lesser.  Every bank is under an obligation, following service, to disclose to us within three weeks what funds (if any) have been frozen by the arrestment.  The procedure is now that such monies caught by a Bank Arrestment are to be released within a set time period of 14 weeks after service.

Other Arrestment

When any other third party owes a Debtor money or goods, you can arrest that money or goods in their hands.  Proceedings are usually required to actually have the said funds released to you, but generally speaking Debtors will try to find funds from other sources to unfreeze the arrested goods if they need/want those goods to continue with the business/save face with customers and clients etc.