This method of enforcement allows a judgment creditor to secure the outstanding judgment debt against any property or shares that a debtor may own.
Although it won't automatically result in a payment, if a final order is made it does mean that when the debtor comes to sell the property or remortgage it, the charging order will be paid from any available equity. Creditors often wait for the property to be sold before realizing their money.
It is also possible for a judgment creditor to take a pro-active stance and apply to the Court for an Order For Sale to force the sale of the debtor's property. Any order to sell the property is made at the discretion of the Judge and all the circumstances of the debtor have to be taken into account. More resources are available at: Charging Order
If you need further assistance on making an application then please contact the Client Services Team of Sherforce Plus who will be able to give you further information. You can email a member of the team on enquiries@sherforceplus.net or you can call the team on 0845 890 9207.
