If you are owed money from a debtor that cannot repay the money owed, seizing goods is often the next step in the process. Upon issue of a Writ of Control from the Court, certificated bailiffs can enter the debtor’s home. From there, the debtor and enforcement officer can either decide on a settlement plan whereby the money is paid in installments, or the enforcement agent can secure or take their goods to repay the debt.
Secured or taken goods
Goods can be secured on a debtor’s property in order to ensure no selling or removing of the goods in the meantime, to then be collected later. Taking control of their goods will typically involve an inventory where their financial worth is recorded and then locked away in a room or cupboard that the debtor cannot access. If the goods are removed from the property immediately, they are secured off site.
Once seized and taken away from the property, these goods will typically be sold at a local auction. The money that accumulates from the auction will go to repaying the debt owed and the enforcement officer fees. Generally, the money will go to the enforcement agency first and then any remaining will go towards repaying the debt, which is named the Application of Proceeds.
In the event that the money raised is not enough to cover the enforcement officer fees and money owed, the debtor will still have to pay the outstanding debt. The seized goods process can only be repeated and more goods collected if the debtor has bought more items in the meantime or items were previously in use on the first visit to the property.
If you would like some assistance with seizing goods to cover a debt, get in touch with Able Investigations. We have a certificated team of bailiffs in Bristol that can offer help and advice. Please call us on 0845 370 7401 or contact us online.