Debt Management - Dictionary of terms.

Debt and areas surrounding debt can be


Administration Orders: An administration order is where a County Court administers payments to all your creditors. Only applies if you have at least one County Court Judgement (CCJ) against you and the total of your debts does not exceed £5,000. One payment is made to the court and the court splits this between all creditors according to how much you owe. As long as an Order is in force, creditors cannot take further enforcement action and interest is stopped.