The seizure is a formal order made by the judicial authority, which orders the debtor to immobilize the seized assets so that they remain as a guarantee of payment of the defaulted debt. The resource for the seizure to be carried out is called a writ of exequendo and is also known as an act of execution. Now let’s see who can order the embargo.
Garnishment can only be ordered by a judge as part of a trial, so the garnishment order is always signed by a judge. The judge may require the payment of the debt, and in case of a refusal, he may dispose of the debtor’s assets, ordering the seizure and auction of the assets so that that amount is collected by the creditor for what is owed, up to where it is covered.
There may be a second garnishment, in which salary and pension are garnished. Photo: Pixabay.
Collection firms act by pressuring the debtor to pay what he owes. Together with the creditor financial institution, these firms collect extrajudicially.
Garnishment is an extreme measure, the last option for a creditor to recover, through a trial, what is owed to him. Before the situation reached this point, other steps had to be taken, other attempts to collect, such as mediation. But if all the alternatives have already been exhausted and the debt is still not paid, then the seizure will proceed.
To reach the embargo, in the legal procedure a commercial executive trial will have been initiated.
There are these types of liens:
The precautionary. That it can only be ordered by a civil judge, who orders its immobilization. The executive. In this, the judge orders the immediate retention and liquidation of the assets, so that with the proceeds the debt is settled.
The amount of the garnishment will be equivalent to the value of the debt, and a wide variety of assets can be seized, such as:
House. Department. Building. Ground. Jewelry. Artworks. Automobiles Valuable animals. Home appliances. Furniture.
If the seized assets do not cover the amount of the debt, the judge can order a second seizure and what could be seized would be the salary, if it exceeds the minimum interprofessional wage and the pension, if it exceeds the minimum interprofessional wage.
In principle, the embargo will not be carried out by force, but if the debtor’s resistance continues, the judge can authorize the public force to intervene, the police will appear and they will open the doors.
The trials that conclude with the embargo are long, they can range from 8 months to 5 years.
More information in the Credits Section.