Glossary Of Debt Management & Financial Terms
Asset
A possession with monetary value e.g. houses, cars, stocks and bonds. This is anything that belongs to a debtor, individual or company, which may be used to pay it or his/her debts. These Assets are more of interest to Official Receivers and Secured lenders, although they can still be affected by unsecured creditors after going through correct procedure to apply a charging order (usually on a house or other property)
This is anything that belongs to a debtor, individual or company, which may be used to pay it or his/her debts.
