Arrears is a legal term for a type of debt which is overdue
after missing an expected payment. Arrears accrue from the date on
which the first missed payment was due. The term is often used to
describe being late with rent, bills, contractual payments, child
support, or other legal financial obligation.
Assets are things you own that have a monetary value. Good
everyday examples of assets will include your property, car,
savings, antiques, valuable jewellery etc.
Attachment of earnings
If you are not repaying debts as agreed through the Court they
can notify your employer to deduct a certain amount before paying
your wages which will then be used to repay your debts. Under
British law, a self-employed, unemployed, or member of the armed
forces cannot have an attachment against them.