Access keys | Skip to primary navigation | Skip to secondary navigation | Skip to content | Skip to footer
Problems viewing this site
Skip BreadcrumbHome > Publications > Factsheets and guides > Guides > Debt > Terms you should know

Terms you should know

Assets - Items of value owned by a person

Capital debt - The amount of money owing (excluding any interest)

Claim and Statement of Claim - A court document making a claim against a person to obtain a judgment against them

Contempt of Court - An offence that occurs for refusing or neglecting to attend or do what a court has ordered without lawful excuse

Creditor - The person or company who is owed money from the debtor

Debtor - A person who owes money to a creditor

Encumbered - A person has a mortgage or bill of sale or other form of security over property

Enforcement Creditor - The person or company who has a Money Order from the court in their favour

Enforcement Debtor - The person who is the subject of a Money Order by the court against them

Enforcement Hearing - A date and time set by the court that a debtor must attend to provide information and answer questions about their property and other means of paying the debt

Enforcement Hearing Summons - A document requiring a person to attend court to enable a creditor to examine your income, assets and liabilities and establish a method of recovering the judgment Money Order amount

Enforcement Warrant - A warrant of the court seeking to enforce a court order or Money Order against a person or their assets

Enforcement Warrant for Redirection of Earnings - A warrant issued by the court that requires a person’s income be paid directly to the enforcement creditor

Enforcement Warrant for Seizure and Sale of Property - A particular enforcement warrant against an enforcement debtor’s property

Expenses - Financial outlays

Income - Money earned or regularly received by a person

Judgment - A formal decision made by a court

Liabilities - Other debts, expenses and amounts of money required to be paid by a person

Money Order - An order made by a court stating that a debtor owes a creditor a certain sum of money

Principal Place of Residence - The property in which a person lives on a day to day basis

Stay - When a Magistrate suspends an enforcement order

Warrant for Payment of Order Debt by Installments - A warrant issued by the court that requires a person to pay regular periodic amounts directly to the enforcement creditor to reduce the Money Order Judgment.

 

Last updated 07 June 2008

"Inform your creditors of any financial difficulties."

"A Claim and Statement of Claim/Minor Debt Claim is an application made to the court to obtain a Money Order."