Glossary Of Debt Management & Financial Terms
Attachment
A legal process whereby a creditor has obtained judgment on a debt which allows him/her to receive full or partial payment by taking legal possession of a portion of the debtor's assets (wages, bank account, etc.).
This is a process whereby a creditor can obtain access to a debtors liquid assets'. The most common being an attachment of earnings, where the court can order that a certain sum of money be deducted from the debtor's wages (only when in employment, not when in self employment or unemployment) at source.
