With the right collection attorney (i.e., a collection attorney that can actually collect), a money judgment can accumulate a sizable 'return on one's investment'. As of January 1, 1983, the rate of interest on a money judgment is 10% per annum. California Code of Civil Procedure §685.010(a). Perhaps surprisingly, that rate of return is generally better than one offered by a bank.
If a debtor voluntarily paid his/her judgment, there would be no need for a collection attorney. Since the failure to pay a creditor back happens more often than not, should a creditor want to enforce a judgment, he needs a competent collection attorney. One of the best tests of competency is how a collection attorney responds to a debtor's claim of exemption. A judgment debtor utilizes a claim of exemption to protect his property from a judgment creditor.
Chances are you have heard the term 'alter ego'. In legal terms, finding alter ego gives the court cause to pierce the corporate veil and hold individual shareholders personally liable for debts of the corporation. For a creditor with an outstanding judgment, alter ego is where the court finds that a corporation lacks a separate identity from an individual or corporate shareholder, resulting in injustice to the corporation's creditors. Finding alter ego gives the court cause to pierce the corporate veil and hold individual shareholders personally liable for debts of the corporation.
The start of a collection lawsuit begins with the summons and the complaint. A complaint is the first document filed with the court by a person or entity claiming legal rights against another.