Glossary - B



Bailiffs

These individuals are employed predominantly by the courts to enter your property and remove goods that can and will be sold at auction in an attempt to cover any debts you owe a lender who has previously issued a County Court Judgement (CCJ) which you have failed to pay.



Bankruptcy

If you can't repay your debts you may be declared bankrupt. Any assets you have would be used to raise money to distribute to your creditors (those people you owe money to). If you own a home you may well be expected to sell it.