Accounts Retrievable Systems – Collecting On A Judgement

A civil judgment is a court order to pay a specified amount of money. Civil judgments must be collected by the person to whom the money is owed, known as a judgment creditor. Judgment creditors may be unpleasantly surprised to know that collection of the judgment is often an arduous and lengthy process, and that it is not rare to be unable to collect the amount at all. Nevertheless, there are some strategies that facilitate the judgment collection process.

Consider hiring an attorney with experience in debt collection and enforcement of judgments in the jurisdiction where your civil judgment was entered. Collecting on a judgment may require court hearings and knowledge of how to levy against a debtor’s property and assets.

Negotiate an installment agreement with the debtor. Ask the court to order the debtor to repay the judgment in installments. If the court does not order the installment agreement, ask the debtor to voluntarily enter into such an arrangement.

When a judgment is entered in the Civil Court of New York State it is enforceable for a period of twenty years for money only, it is not a lien against real property. Nor is a judgment entered in one county a lien on real property in any other county. If a judgment-creditor wishes to enforce a judgment against real property, he or she must follow the procedure below for “transcripting” the judgment. A transcript is a paper containing the essential information of the judgment, certified by the clerk in the county where the judgment is entered.

Place a lien on the debtor’s assets. File a lien with the court against the debtor’s land, buildings, or place of residence, in the county where the assets are located. This lien restricts the debtor’s ability to sell the assets without first using the proceeds of that sale to pay off your judgments.

Before the County Sheriff can seize personal property or assets of the Debtor, the Creditor must first identify the property to be seized. To learn the Debtor’s assets, a Creditor may request an Information Subpoena from the City Court for a fee. An Information Subpoena is a legal document that directs the Debtor to answer certain questions regarding the existence and location of assets as well as employment and wage information. (Although usually served on the Judgment Debtor, an Information Subpoena may be served on another person or corporation, such as a bank, that has knowledge regarding the Debtor’s assets.)

Garnish the debtor’s wages, bank accounts or rent payments due. After providing the name of the employer, the bank account numbers or other relevant information, you can request the court to attach, or garnish, the debtor’s property. Funds from the garnishment can be used to repay the judgment, unless they are subject to an exemption, such as those received from unemployment compensation, Social Security, or worker’s compensation.

Tips & Warnings

-Most states limit the percentage of a person’s wages that are subject to garnishment.
 

-Some property can be transferred even if a lien has been placed upon it, if the person acquiring the property is willing to assume the property without receiving clear title to the property. This may be the case with a family member.

Call Accounts Retrievable System For More Info at (800) 327-4687