Did you receive a judgment?
Are you wondering how to collect on your judgment?
You may be wondering which tools are available to enforce your judgment.
After the ink is dry, when the time for an appeal has passed and the judgment becomes final and enforceable – unless your debtor has written you a check – it’s time to explore post-judgment remedies. A variety of tools are available through the courts to help you collect your judgment, including:
Garnishment: A court order to take the debtor’s wages or cash assets. Garnishments can be an extremely effective tool for recovering the money you’re owed.
Writs to seize assets: Court orders permitting you to seize some of the defendant’s possessions to sell in satisfaction of the debt.
Judgment liens: Depending on the laws of your state and the nature of the debt, you have the right to impose a lien against the defendant’s assets and to recover money if the assets change hands.
Examinations for assets under oath: The right to take sworn testimony from the debtor about her assets and where they’re located.
Receivership: A receiver is a person appointed by the court to take control of your debtor’s personal or business assets and to liquidate or preserve them for your benefit.
Charging orders: If your debtor is in business with others – a charging order creates a lien on the debtor’s interest in the business.
When you’re selecting tools for collecting a judgment, you’re not limited to just one. You may try a garnishment first, and if the garnishment is unsuccessful, you may proceed with a writ to seize assets, until you’ve exhausted your options.
If you have questions about your debt collection lawsuit, contact an experienced attorney for debt collection in Michigan for help.
If you’re a business owner, you should be spending your time conducting business rather than chasing down debts. Contact an experienced attorney for debt collection in Michigan today at (248) 645-2440 for a resolution to your collection matters. Let the experts worry so you have more time to focus on growing your business.