ADMINISTRATION ORDER Meaning and
Definition
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An administration order is a legal process where a court-approved order is issued to manage the repayment of debts of an individual who is struggling to meet their financial obligations. It is a debt management solution available in certain jurisdictions, typically within the United Kingdom. The administration order allows the debtor to make a single monthly payment towards their debts, which is then distributed among their creditors by an appointed administrator.
The debtor seeks an administration order when they are unable to repay their debts fully but have a regular income and can afford to make regular payments towards them. Once the order is granted, it provides the debtor with protection against any legal action from creditors, including calls, letters, or court actions demanding immediate repayments.
Under the administration order, the debtor works closely with the court-appointed administrator to calculate the monthly payment amount based on their income and essential living expenses. The administrator then allocates these payments proportionally among the creditors, taking into account the amount owed to each creditor.
However, it is important to note that not all debts can be included in an administration order. Debts such as secured loans, rent or mortgages, and court fines are typically excluded. Additionally, if the debtor fails to make the agreed payments, the administration order can be revoked, and creditors may resume their attempts to recover the outstanding debts through enforcement action.
Overall, an administration order provides debtors with a structured repayment plan, allowing them to manage their debts in an affordable and sustainable manner.
Common Misspellings for ADMINISTRATION ORDER
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Etymology of ADMINISTRATION ORDER
The word "administration" originates from the Latin word "administratio", which is derived from the verb "administrare". "Administrare" is a combination of "ad" (meaning "to") and "ministrare" (meaning "to manage or serve").
The term "administration" generally refers to the act of managing or overseeing the affairs of an organization or entity. In legal terms, an "administration order" is a court order in the United Kingdom that allows a debtor with multiple debts to make regular payments to a court-appointed administrator, who distributes the funds among the creditors.
Therefore, the etymology of the phrase "administration order" is primarily rooted in Latin and relates to the management and control of financial obligations.
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