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This is a means of securing a judgment debt against the debtor's property. Although it won't automatically result in a payment it will secure the debt against the debtor's property and when the debtor comes to sell the property or remortgage it, the charge should be paid from any available equity. Alternatively the judgment creditor can take a pro-active approach and apply to the Court for an Order For Sale to force the sale of the debtor's property. This application is usually made where the value of the debt is quite high.
More resources are available at: Charging Order
If you need further assistance on making an application then please contact the Client Services Team of Sherbond who will be able to give you further information. You can email a member of the team on enquiries@sherbond.net or you can call the team on 0845 890 9207.
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