What is a charging order?

A charging order is a type of court order that a creditor can use in order to collect an unpaid debt from a debtor in the state of New York. This type of court order is typically used when a debtor has not paid a debt owed to a creditor, such as a loan. The court order allows a creditor to put a lien or charge on the debtor’s property as a way of collecting the debt. The charging order is usually served to the debtor, who can either comply with the order and pay the debt or contest the order in court. In New York, a charging order is a legal remedy available to creditors to collect debts owed by a debtor. The creditor can request a charging order from the court, which would freeze the debtor’s assets and allows the creditor to seize the assets to pay for the debt. The creditor can also seek a variety of other remedies, such as wage garnishment or bank levies, in order to collect debts. Charging orders are an important tool to protect creditors from debtors who do not pay their debts, but it is important to remember that the debtor still has rights under the law. The charging order must be legal and valid, and the debtor still has the right to dispute the order by appearing in court.

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What is a charging order?

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