What are the ways by which a judgment creditor can collect money?

A judgment creditor is an individual who is eligible to collect in a judgment. A judgment is a decision by any state or federal court in which an order is placed to pay money to another party. And the decision is binding and enforceable by the court that verdict came from. In case of failure to pay, a lien can be positioned on the person’s property until the balance is cleared.

 A judgment creditor is given a lot of flexibility in how they can collect the money after the verdict.  The money can be collected in a number of ways. Firstly, by placing a lien on the property, or by removing a small amount each month from the debtor’s paycheck. The money can also be gathered by placing an order of payment on any trust funds the debtor receives. In case the debtor announces a bankruptcy, then the creditor is bounded in their remedy to whatever is obtained from the property upon sale.

Now the question arises – how do the creditors collect their money? The answer is simple – they go through the court system for collecting payments.  The process of execution can be administered and it is directly handled through the court. So, the creditor does not have to deal directly with the debtor.

If you are indulged in any such scenarios, you should take help of an attorney with vast knowledge and experience in the field of judgment ruling and mechanics lien in Massachusetts. The attorney will help you at every step and educate you on how you can through the entire process in a hassle-free way.

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Created on Dec 10th 2018 02:21. Viewed 329 times.

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