You Have a Judgment, Now What? Here’s How You Collect.
So, life isn’t always fair. You hired a lawyer. You went to court and won. But, you don’t have your money.
Now, you’re frustrated chasing payment after you did the work you promised to do or loaned money, trusting you’d be repaid. The truth is that unfortunately, many businesses and law firms find themselves in this position.
Don’t worry. We’ve put together this straightforward “how-to” for how you can finally collect the judgment you are rightfully owed.
Here’s the key:
“The only way to get the debtor’s attention in debt collection matters is to be the number one item on the debtor’s agenda.”
You see, a court judgment actually gives you enormous leverage. Under the law, you can now force the debtor to engage with you, like it or not.
By keeping the pressure on, you can force the debtor to produce information and records, you can attach property and bank accounts and, if they still won’t engage, you can get assistance from law enforcement to place the debtor in jail.
How? A debtor is committed by law to the following:
- Answer questions about their activities
- Prepare and produce documents for our review
- Face writs of garnishment or writs of execution
- come to our office for a deposition; and
- If they fail to cooperate fully: appear before a judge or face jail time
Full disclosure: You need to be committed to legally regaining the money that you’re owed. So, for small debts, it may not be worth it to you. That’s for you to determine.
Bottom line: The world of post-judgment debt collection can be a happier place where you can shed your frustrations and finally get paid! The key is to follow a process and be relentless.