Third-Party Debt Order

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August 31, 2024 4 min read Definitions

Garnishee Order: The Former Name for a Third-Party Debt Order

Law Finance Economics Garnishee Order Third-Party Debt Order Debt Collection Legal Terms Financial Regulation

Detailed overview of garnishee orders, their historical context, types, key events, mathematical models, examples, and importance in financial and legal systems.

August 31, 2024 4 min read Definitions

Third-Party Debt Order: An Essential Legal Instrument for Creditors

Law Finance Government Regulations Third-Party Debt Order Garnishee Order Judgment Debtor Creditor Debt Recovery

A Third-Party Debt Order is a court-issued directive that instructs a third party, often a bank, to refrain from disbursing funds to a judgment debtor and to instead pay a specified amount to the creditor or the court. Previously known as a garnishee order, it serves as a vital tool in debt recovery.