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Attachments
An attachment
is a provisional seizure of property pending determination of a lawsuit
whereby a creditor has a debtor's property seized to satisfy a debt. The
process typically works this way:
- The creditor
petitions the court for a writ of attachment
- A hearing
is held
- A writ
or judicial order is issued by the court ordering the sheriff or another
officer to seize property belonging to the defendant
- The property
is impounded by the officer of the court and held to await the outcome
of the lawsuit. Using a writ of attachment, the defendant is prevented
from disposing of the property to the detriment of the plaintiff - assuming
the plaintiff is successful in the lawsuit.
Edited
by Michael Dennis, author of "Credit and Collection Handbook"
available at the NACM
Bookstore. |
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