Difference between revisions of "Creditors' Remedies against Debtors (10:III)"

Under s 3, once the sheriff collects money, an event called a levy, the persons who qualify under the Act will distribute it. These persons must  have filed a writ of execution prior to the levy or must file a writ within one month of the date notice of the levy was entered. Where the creditor does not have a judgment against the debtor at the time of levy, and the claim is for debt, the creditor may obtain a certificate of claim under  the ''Creditor Assistance Act''. If this certificate is delivered to the sheriff within one month of the levy, the creditor may participate in the rateable distribution. The procedure for the certificate of claim is in ss 6 – 21 of the Act.