Collecting On A Judgment
An Overview of Creditor-Debtor Law and Judgment Enforcement Techniques
CAUTION STATE LAW VARIANCES ! ! !
Judgment enforcement law is about as non-uniform
between the various states as any body of law.
Obtaining a judgment is often not the end of the case, but just the beginning of post-judgment enforcement proceedings. In the vast majority of court cases in the United States, if a party loses that party will simply pay the judgment, particularly if it is a claim that is covered by insurance. But in a very substantial number of cases, the debtor doesn't pay: What then? The creditor is left holding a judgment and wondering whether it can be monetized.
What is an judgment worth? The value of a judgment is determined by the following formula:
Thus, a creditor may hold a judgment for $10 million against a debtor who is truly penniless; the value of that judgment is zero, or may even be negative if the creditor expends any significant money in a vain attempt to collect. Similarly, a judgment for $25,000 may also be worth nothing, or have a negative value, if the expenses to collect that judgment meet or exceed its value.
This website focuses on the processes and techniques that are used to collect on unpaid judgments, based on the personal experience of the author as an attorney who represents both creditors and debtors in post-judgment enforcement proceedings.
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© 2017 by Jay D. Adkisson. All rights reserved. The materials herein may not be produced in full or in any part without the express, written permission of the author. No claim to original U.S. government, state or local works. The information contained in this website is for general educational purposes only, does not constitute any legal advice or opinion, and should not be relied upon in relation to particular cases. Use this information at your own peril; it is no substitute for the legal advice or opinion of an attorney licensed to practice law in the appropriate jurisdiction. This site https://collectingonajudgment.com Contact Jay Adkisson by phone to 702-953-9617, by fax to 877-698-0678, or by e-mail to jay [at] jayadkisson.com