What is an Attachment?

Attachment is a collateral which can be seized by a court if the borrower defaults on his payments. For example the court can take control of any money, goods, land, real-estate and cars every time when the odds favor the creditor and there are strong reasons to believe that the borrower would flee and not pay what he owns. If the court rules otherwise then the defendant will be payed if any damages occur while the assets were seized. Usually attachments are considered to be anything what the borrower has signed up as collateral.