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Hi all

 

I may haver posted this question before but I am unable to find anything on it or the link.

 

What is a "Third Party Debt Order"

 

Am I correct in saying that only the companies that are associated with the bank can lay thier hands on it - that is for example Bank B cannot obtain a "Third Party Debt Order" against Bank A unless they are related in some way

 

Then they only get one chance

 

Again, appologies if I have asked this before but I have lost the link etc.

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A "Third Party Debt Order" replaced the garnishee order but they will still need to have obtained a CCJ which you have defaulted on.

 

A "Third Party Debt Order" can be obtained by any creditor & they do not have to have an association with your bank.

 

This is most often used to ring-fence your bank account -- the order instructs your bank or building society to act as the third party here with the aim of using your funds to pay off your creditors. During this process you won’t be able to withdraw money from your account without permission. This method of debt recovery cannot, however, be used on a joint account unless all parties listed on the account are responsible for the debt in question.

 

This process can involve having your account(s) frozen for a period of time until a court decides whether to pay the money to your creditor. The judge here will be looking to see whether you have made all your order/judgement payments. If you haven’t met your commitments here then they may well approve the Third Party Debt Order to release your funds to your creditor.


Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

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17 Port & Maritime Regiment RCT

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Are you sure you're not thinking of a bank offsetting between a/cs?

 

If that's the case a bank can take money from one a/c to pay a debt owed by another if it's within the same group.


Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

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Hi Cerberusalert

 

Definately not an account set off. I was asking as I was about to sell up and move to SE Asia. I have equity in the property which I intend to use to set up home with my wife but was a little worried that some of my creditors would try and grab a Third Party Debt Order, but as yet none of them have a CCJ.

 

Thankfully I am still going to pay via the DMP I have set up.

 

Many thanks for putting my mind to rest.

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Hi Cerberusalert

 

Definately not an account set off. I was asking as I was about to sell up and move to SE Asia. I have equity in the property which I intend to use to set up home with my wife but was a little worried that some of my creditors would try and grab a Third Party Debt Order, but as yet none of them have a CCJ.

 

Thankfully I am still going to pay via the DMP I have set up.

 

Many thanks for putting my mind to rest.

 

Can you have any profit from the sale paid to either your overseas account or if you have one an account outside the banking group?

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Im quite new here and I hope I can get answers.I just checked my bank account ,I discovered two payments where taken and one was for a fee of £51 the other was for 3RD PARTY DEBT ORDER

Now Im surprised as I don't know of any debt I owe, this money came out as debit on 17/02/2015/ however someone made payments to 21/02/2015 and I was able to withdraw this money(£200).Im yet to contact my Bank as at work still.my question would be, where they not meant to be any sort of correspondence to me just to let me know what was going on?can they keep taking same ammount from my account? would they have to apply for this 3rd party debt order every now and then? can a 3rd party debt order be made for just £50 plus fees?how can I stop this?I will be very greatful for any help before I do something rely stupid financially.

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