Introduction: The Doctrine of Alter Ego and Federal Bankruptcy Preemption Piercing the corporate veil is a poetic term for an attempt by a creditor to legally prove that a corporate entity lacks a separate identity from its owner or principal. In Chapter 7 or Chapter...
It’s common for businesses to acquire quite a bit of debt when first starting out. When businesses take on debt it’s referred to as commercial debt. If you’ve gotten behind on your business debt payments, you’ve likely received calls from debt collection agencies....
You followed the right process. You filed suit, built a strong case, and received a court judgment in your favor. You move forward to collect the debt only to find out that the debtor entity cannot make payment. Something does not add up. Upon further digging you...
What costs are recoverable when enforcing a California money judgment? Under California law, the judgment creditor is entitled to the reasonable and necessary costs of enforcing a judgment. California Code of Civil Procedure §685.070 specifically allows the judgment...
Calculating the precise amount owing on a judgment is essential during the judgment enforcement process. If the creditor’s calculation is incorrect, the court may refuse to issue a writ of execution (which is necessary to levy on the debtor’s assets). Furtherore, if...
If you were involved in a commercial collections claim and the court decides against you and issues a judgment and you do not intend to appeal, it is generally best to pay the judgment as soon as possible. If you do, under California law, you will not have to pay...
Under California law, a judgment creditor may assign a judgment to a third person. Cal. Civ.Code 954. "In doing so, the judgment creditor assigns the debt upon which the judgment is based ... Through such an assignment, the assignee ordinarily acquires all the rights...
Collecting a judgment can be one of the more difficult and frustrating parts of a commercial collections case. We have found the following to be highly, effective ways to enforce a Judgment in California: Levy a bank account including a safe deposit box; Levy a...
For California creditors, enforcing a judgment is largely a procedural task. When a judgment is entered by the court, California law gives the creditor certain procedural powers that can be used not only against the debtor, but also against people and entities...
Once a creditor files a lawsuit and is awarded a judgment by the court, the creditor has several options to satisfy its debt. You can garnish wages or levy a bank account. You can also obtain a judgment lien and place it on real property such as a house or even...
