Are you familiar with the term the Judgment Collection?
It’s quite simple, a court judgment in an accusation that someone is going to get money from the other person who owes/ borrows is called the Judgment Collection.
The very first step after the judgment is to allocate the assets of a debtor. According to Los Angeles judgment collection specialists, it’s a challenging task to do, and for this purpose, the creditor may use internet search and can take help from taxations office. Once the debtor’s assets are known, then you can see other options like debtors’ interrogatories, garnishments, levies, and liens. After this, you can come up with the following questions;
Does the debtor have a regular income?
Find the place where he works. You can trim his wages or income.
Does the debtor have a bank account?
If you know where his bank is located, apply for levy from his bank account with the court judgment as a proof with all your legal documents and legal approach.
Does the debtor own real estate?
Using judgment as an authentic proof, any real estate a debtor own becomes a lien.
Once you know the debtor’s assents, then make communication in order to remind him about your credit. You can use different channels of communications like text, emails, and calls him to show your attention towards your loan as soon as possible, with no more wait. You can also take help from any Los Angeles judgment collection specialists.
During all this, give him freedom of sending money like via credit card, PayPal or through cheque. It’s good for you to keep all your conversions in record as it can be helpful for any legal action.
A creditor may ask the debtors to appear in the court for answering any question in the front of a judge under oath about all his business and property. This method is unique and helpful for the creditor to determine whether his property can pay his amount or not.
In case if the debtors fail to give the judgment collection to the creditors, garnishment is used to collect unpaid judgment amount. Garnishments are a post-judgment collection technique in which the court order the third party to hold the funds otherwise that can be owed to the creditor. In regular garnishment process, all the bank accounts of the debtor are freeze till further next orders of the court.
Levies is a method to withdraw judgment collection by seizing the personal property. It includes cars, home, jewelry than a public auction is carried out, sell the property and other things to fulfil the judgment amount.
While trying all methods for getting your judgment collection, don’t forget to resume or renew the judgment of the court. It expires after specific period of time. You have to inform the court about all the procedures you are following and ask for the extension because once the judgment is expired than the court is no longer able to help you out.
These are all the way and means to collect your judgment in an effective way or approach collecting agency.