The options available to you are as follows:
1. Execution by the Sheriff
A Judgment Order can be lodged with the local Sheriff. The Sheriff will call to the debtor’s address and attempt to seize any goods the debtor may have, in satisfaction of the debt owed. The Sheriff does not have to give the debtor notice of intention to seize their goods or property and will not seize essential household items or the tools of trade. There can be delays in this process and often the Sheriff can decide that the debtor has no goods worth seizing and selling. However, where it is not economically viable to seize goods, the Sheriff will often enter into instalment arrangements with debtors.
2. Registration of Judgment
To bring a judgment to the attention of the public at large, it must be published. When a judgment is registered in the Central Office of the High Court, it is published in trade gazettes and various commercial databases. These gazettes are widely read by credit controllers, bank managers etc. This will affect a debtor’s credit rating which can have serious consequences.
3. Examination, Instalment and Committal Orders
An Examination Order follows service of summons requiring a debtor to complete a Statement of Means and to attend Court to be cross examined regarding his means. If the debtor fails to attend, or fails to submit a statement of means or fails to prove their inability to pay, the Judge will be obliged to make an Instalment Order. This order compels a debtor to repay by weekly or monthly instalments the amount of the debt and legal costs which are due. If the debtor fails to comply with the Order, then a Committal Order can be sought from the Court, which directs that the debtor be arrested and committed to prison for contempt of Court on the basis that they have failed to comply with the terms of the Instalment Order.
4. Garnishee Orders
Where a third party holds or owes money for the Judgment debtor, you can apply Ex Parte (without notice) to the Court for an Order directing that any monies be paid by the third party directly to the creditor. Timing is important to ensure that the third parties such as the Bank, National Lottery, Local Authority etc. are advised of the Garnishee Order before the monies are paid to the debtor. This procedure is dependent on you having good intelligence on any monies being paid to the debtor.
5. Judgment Mortgage
We can carry out property searches to ascertain whether the debtor has any property or land, owned or part owned, on which a judgment mortgage can be registered. Once registered, it may prevent the property from being sold and you have the right to have the property sold off and the proceeds used to pay the debt.
6. Injunctions
An injunction is an order of the Court directing a party to do or refrain from doing something. Injunctions can vary in duration and be either mandatory or prohibitory. For example, a Mareva Injunction can be sought to freeze the debtor’s assets to prevent the debtor from attempting to dissipate or dispose of the assets up to the value of the debt pending trial of the action or pending payment of the judgment debt.
7. Winding Up
Where the judgment has been obtained against a limited company, a Notice can be issued threatening to wind up the company. If the debt is not paid within 21 days, a petition may be presented to the High Court to have the company wound up.
8. Bankruptcy
This applies only when the debt is very large and the debtor is an individual. You can apply to the High Court to have a debtor adjudicated as bankrupt. The bankrupt’s assets are realised by a Court Officer and the proceeds distributed amongst the creditors.
To find out more about recovery of your debts, please contact Brophy Solicitors on (01) 679 7930 or by email.
Rebecca Townsend
Brophy Solicitors
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