Oxford's financial situation was steadily deteriorating. At this point, he had sold almost all his inherited lands, which cut him off from what had been his principal source of income. Moreover, because the properties were security for his unpaid debt to the Queen in the Court of Wards, he had had to enter into a bond with the purchaser, guaranteeing that he would indemnify them if the Queen were to make a claim against the lands to collect on the debt. To avoid this eventuality, the purchasers of his estates agreed to pay Oxford's debt to the Court of Wards in instalments.