A legal document that can impact any credit user, what is an emoluments attachment order? A side of credit collection that is largely not talked about, unknown to many younger credit users, this is an item of great importance. Also referred to as a garnishee order, this is information that can help you understand the world of debt and credit a bit better.
Allowing a creditors or debt collector the ability to get around the debtor without dealing with them directly, this order allows lenders to recoup outstanding funds directly from employers or other sources of income. The subject of much debate recently, this means collectors can take money directly from your wages before it has even gotten to you. If the order is granted, collectors can legally request that your employer pay them owed funds directly from your payment.
When the debtors hasn’t paid their outstanding accounts, an emoluments attachment order is used to go over the consumers head and get the funds back. Whether recouping from salary or from assets, once granted this order allows creditors the chance to get their money back.
Often questioned as reckless lending, there has been an issue in recent months where these orders were the key factor in sending debtors into over indebtedness.