This section explains terms you might have seen in other parts of this site or in communication you have received from creditors.
- Joint Account
- Definition: Joint Account
A bank account held by more than one person, usually by a married couple or by partners who live at the same address. On the death of one person, the other is automatically entitled to the balance of the account
- Joint and Several Liability
- Definition: Joint and Several Liability
Where each person in a joint loan is equally responsible for repayment of the loan, but also individually (or “severally”) liable for repayment of the full amount. A creditor can choose to enforce the loan against one or both debtors; however this is normally only done if one debtor cannot be found. Most loans in a joint name have this feature.
- Definition: Judgment
A court order obtained by creditors against you in respect of debts outstanding.
- Jurisdiction of Courts
- Definition: Jurisdiction of Courts
The location of a court (and the area it oversees) and/or what types of cases a court may hear. For more information, see the Citizens Information page on the Courts System.