Accounts Retrievable Systems – Collecting On A Judgment
If the judge in small claims court rules in your favor, or if a default judgment is issued because the defendant fails to appear or defend the case, the court will issue a judgment for a specific amount of money. This amount will include court costs as well as the amount the court has stipulated you be paid.
If the other party appeals the Court’s decision, he or she is required to put up an Appeal Bond, guaranteeing payment if the appeal is denied. This may help you get your money, but you will have to wait until the appeal is heard.
If the other party does not voluntarily offer to pay you, you must decide how to proceed to get your payment. You have several options:
• You can request the Court to require that the other party make installment payments.
• You can do nothing and wait. The judgment will be entered as a lien against real estate or other real property owned by the other party. The lien must be paid off when the property is sold. If you wait long enough, you will get your money when the property is sold.
• You can contact the other party and discuss payment, including payment terms.
• If the other party does not agree to voluntary payments, or has stopped making payments on an installment agreement, you can file an Affidavit of Default with the Court showing the unpaid balance and requesting action.
• You may ask the Court to garnish the person’s wages or seize property owned (personal bank accounts) to pay off your debt.
In some cases, none of these options works, especially if the party has no assets, no wages, no savings, and no hope of getting the money to pay you. In this case, you maybe should have checked to make sure this person had money before you started the process.
Article Source: www.about.com
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