Assignment of Judgment Debt

The Deed of Assignment of a Judgment Debt plays a crucial role in the debt recovery process. By transferring the debt to a new creditor, the original creditor can recover a portion or all of the outstanding amount without having to pursue it themselves. The new creditor assumes the rights and responsibilities of collecting the debt and may take legal action against the debtor if necessary.

This document ensures that the transfer of the judgment debt is legally binding and valid. It protects the rights of both parties involved in the assignment and provides a clear record of the debt transfer. The Deed of Assignment of a Judgment Debt is essential for maintaining transparency and ensuring that all parties are aware of their obligations and rights in the debt recovery process.