You’ve gone to court and secured a judgment against the debtor. Now what? Now you must enforce the judgment. Debtors don’t necessarily pay just because a judgment is issued against them. An aggressive commercial collections lawyer can help you with enforcement of judgment even if the debtor leaves the state. Consider the following and then talk with an attorney to determine which option is best for you.
Writ of Execution and Levies
After a judgment you may be allowed to levy the property of the debtor with a writ of execution. When you levy something, the sheriff or another official will take possession of the property on your behalf to sell it so that the judgment may be satisfied. Even accounts payable for a business may be levied to pay off a judgment.
Seizure and Sale of Real Estate
Depending on the nature of the debt owed to you, you may be able to make a motion to sell, ask us how to help.
Setting Up a Receivership
You may be able to be ask the court to appoint a receiver of real property, business, rent, or profits if you’re granted a judgment against the debtor. This puts you in control of receiving money that’s owed to you directly from the business. However, it’s important to note that receiverships are only used if a business is practically insolvent or being operated unlawfully or poorly so that its profits ‘mysteriously’ vanish.
Learn More about Enforcement of Judgments
If you’d like to learn more about enforcement of judgments, contact experienced collections attorney Ronald P. Slates today. Having a plan and understanding your rights as a creditor is important.