Debt recovery methods a judgment creditor can use

You take an unwilling debtor to court, and the judge decides to pass a verdict. But what if the debtor still refuses to pay you? Sure, the court may pass the judgment, but they cannot enforce it.

So, what can you do for your judgment enforcement? How can you recover the money you are legally owed?

The first thing you can do is get a writ or a warrant from the court. It will allow you to ask the sheriff to take assets such as money from a debtor’s bank account or seizing part of their wages. You can also get an assignment order from the court to intercept a cash flow stream going to the debtor. Lastly, you can get permission from the court to do an examination of the debtor. This will help you get hold of information which can be used to inquire about the financial situation of the debtor. You can even ask for the production of documents from the debtor or anyone that owes money to the debtor.

Judgment enforcement may sound like an easy task, but it is not. As soon as the court makes you the judgment creditor, it is up to you to chase the money owed to you. Unless you outsource the enforcement of the judgment, you will be the one who has to enforce your judgment.

An overwhelming majority of judgment debtors will merely shrug off the judgment and refuse to pay the amount that they legally owe. This is the situation where debt collection attorneys will come in handy. They are well educated on the legal recovery methods to claim the money owed to you. They will search through individual or business assets to find a way to uncover the hidden cash that should have been used to clear the debt after the trial. Professionals also have access to the databases and resources which can be used to maximize the likelihoods of getting your money back from the debtor. With the help of these resources, debt collection attorneys, assuming the debtors have assets, can recover unpaid judgments reasonably quickly.

In closing, it is usually worth it not to have to work and spend to enforce your judgment yourself. Hire a professional attorney and increase your chances to recover the amount you are owed.

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Created on Nov 24th 2018 02:20. Viewed 313 times.

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