Summary Warrant: Money attachments: What is money attachment
Overview of Money Attachment
This is a form of diligence introduce by the Bankruptcy and Diligence (Scotland) Act 2007, over money owned by a debtor to be known as money attachment. Money means ‘cash, coins and bank notes in any currency and third party cheques, money and postal orders.’ There are other documents which may also constitute money and appropriate advice should be taken. There are restrictions on the day/times when a money attachment can be served and money cannot be attached twice for the same debt. Other money held on the premises not caught by the attachment order cannot later be attached for the same debt.
Money attachment is competent to enforce payment of a debt but only if
- the debt is constituted by a decree or document of debt;
- the debtor has been charged to pay the debt;
- the period for payment specified in the charge has expired without payment being made; and
- where the debtor is and individual, the creditor has no earlier than 12 weeks before executing the money attachment, provided the debtor with a debt advice and information package.
Money is not competent in relation to money
- kept within a dwelling house; or
- in relation to which arrestment is competent.
Our instruction to the Sheriff Officer will incorporate a request to attach money. Our stock instruction will be amended accordingly.