Register of Insolvencies
The register of insolvencies is a statutory register about the insolvency of individuals and businesses in Scotland.
Money attachment allows a creditor to attach money (cash including coins and banknotes in a foreign currency, postal orders, banking instruments etc) which is held on a debtor's premises although money in a dwellinghouse cannot be attached.
A creditor must be in possession of a decree (or relevant document of debt) and must have issued the debtor with a Charge for Payment, which must have expired, before proceeding with money attachment. Where the debtor is an individual, the creditor must also have provided them with a Debt Advice and Information Package.
There are certain days and times when a money attachment cannot be carried out unless prior authority has been granted by the sheriff. Money attachment may not be carried out on Sundays and public holidays, before 8am or after 8pm, and if started within these times it cannot continue past 8pm. The sheriff officer carrying out the attachment has the power to 'open shut and lockfast places' in order to carry out a money attachment.
The Sheriff Officer carrying out the money attachment must make a detailed report to the sheriff(and copy it to the debtor, the creditor and any other person who has asserted that the money attached is not owned by the debtor) within 14 days of the attachment.
If the debtor thinks the attachment is unduly harsh or that the sheriff officer has not carried out the attachment correctly, or a third party claims to own the money (or own it in common with the debtor), then an application may be made to the sheriff to have the money returned. If it is thought the attached money might deteriorate in value, the creditor, debtor or sheriff officer may all apply for the immediate release of the attached money.
Once the report of the attachment has been made, the creditor may apply to the sheriff for a payment order authorising the release of the attached funds. The application for the payment order must be within 14 days of the report of the attachment being made.
The payment order allows the sheriff officer to realise the value of the attached money, including presenting cheques for payment.
Once the money has been realised the sheriff officer can dispose of the funds, retaining their own fees and outlays and paying the creditor the amount recoverable by the money attachment. Any surplus funds are returned to the debtor. Within 14 days of making payments to the creditor, the sheriff officer must give a full and final statement of the money attachment to the sheriff.
Legislation relating to money attachment can be found in Part 8 of the Bankruptcy and Diligence etc. (Scotland) Act 2007.
This section of the website is intended to give a broad overview of diligence. It is not a full statement of the law nor does it provide a full description of each of the processes.