Tag: creditor

Once an individual or business outfit runs into bad debt, which the creditor does not want to forfeit or cancel and in essence wants to recover back his debt from the debtor, the most appropriate and recommended legal means to recover the debt is to approach the law court for redress. The creditor usually initiates court action against the debtor for recovery of the loan sum or money owed the creditor and upon obtaining judgment in favour of the creditor, the process of garnishment of account of the judgment debtor is usually set in motion.
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Nature of Garnishee Proceedings and enforcement of judgment debts in Nigeria

Once an individual or business outfit runs into bad debt, which the creditor does not…
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