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What happens if I have assets to pledge due to a seizure?

If a debtor possesses assets that can secure the payment of the debt, a seizure is executed on those assets. This means the debtor is prohibited from handling the assets in a manner that could destroy them or diminish their value.

Subsequently, the claimant can have the seizure registered against the assets, thereby placing liens on them.

Four weeks after the seizure is executed, the creditor can request that the assets be sold at a forced sale, with the proceeds going towards the payment of the claim.

Further information on asset seizure can be found here.

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