The team at Smit Advocaat & Belastingkundige B.V. has extensive experience when it comes to all legal aspects involved in the area of debt collection. Incidentally, you can also approach us to have assets seized from the debtor. We can also assist you in the event that a bailiff is looking to have your assets or bank account(s) seized or frozen. Our team strives for a quick and practical solution.

Our team provides legal support in the following areas:

• claims/debts;
• summary proceedings for an interim injunction;
• seizure of assets (sequestration or executive);
• third party seizure of assets;
• bank guarantees;
• request for bankruptcy (for legal as well as natural persons).

Debt collection

Generally, we refer to two forms of debt collection. Sequestration and executive seizure of assets. The difference lies in the legal proceedings that are involved. The process prior to the legal proceedings is known as sequestration. Have the proceedings been rounded off, then we speak of an executive seizure of assets.

Sequestration

This form of debt collection can be traced back to the terms conservation or preservation. The debtor has failed in his or her obligation to pay a claim. The creditor can then opt for a process of sequestration, whereby assets can be frozen. Actually, the seized items are ‘preserved’ until a court ruling has been made. This will clarify what should be done with the seized items.

Enforced legal possession often comes as a surprise. This is necessary, as the person from which the items to be seized can otherwise make prior arrangements to have the items moved or sold. In such circumstances, permission from a judge is required.

If you are confronted by a legally enforced possession of assets, you have the right to appeal to a judge.

Executive seizure of assets

Executive seizure of assets is derived from the term ‘execute’, which also refers to implementation. This can be carried out after a court ruling has been made. The debtor refuses to comply with the terms of the verdict. The verdict is then implemented by way of executive seizure of assets.

This can only be applied when there is a writ of execution. This writ of execution is generally in the form of a court ruling. However, an injunction can also provide writ of execution. A writ of execution is headed by the words ‘In the name of the King’.

Third party seizure of assets – garnishment order

A bailiff can seize the entire list of assets from the debtor. This also includes claims the debtor has with other parties, referred to in legal terms as third parties. In such circumstances, assets belonging to someone other than the debtor are seized.

The most common form of third party seizure orders is the seizure of wages. The bailiff then issues an order to the employer to have your wages seized, which means you will not receive your entire salary. A bank account seizure order, in which the bailiff seizes your bank account(s) is also a common example of a third party seizure order.

How to ensure you are best prepared

Would you like an expert to take a look at your attempted seizure of assets? Or would you like find out the possibilities for having a seizure notice lifted? Smit Advocaat & Belastingkundige B.V. knows exactly where to look. Whether it’s a request or challenge to have a seizure notice lifted, you can contact us.

Curious to inquire about our expertise and experience or you’d like to make an appointment? Not a problem. Feel free to contact us. Go to contact on our website or call 010 – 3070 333.

Looking to initiate a seizure of assets?

Our team will gladly assist you further to determine the most efficient and effective approach. Would you like to initiate claims to seize the assets of a debtor? Contact us right away.