Negosentro.com | Judgment Collection: What are Your Options and Why Hire a Collection Lawyer? | If you have won a judgment against someone who refuses to pay the money they owe, you should exhaust some options to collect it. If your judgment debtor does not pay the money voluntarily, there are steps you can take. But, to effectively collect on a judgment in New York, it is best to hire a collecting attorney to help you.
Take their Assets
First, you need to know where you can find the debtor’s property. Then, you should familiarize yourself with collection techniques that will let you recover the property and satisfy your judgment. Your options include:
- Wage garnishment. You will be entitled to a percentage of your debtor’s net wages to satisfy a debt.
- Bank account levy. You can order a sheriff to withdraw funds from your debtor’s bank account, subject to exemptions. This option may work just once because the debtor may move the account once you take its content.
- Lien attachment. You can also collect money on a judgment by attaching a lien to the debtor’s real estate.
Obtain a Writ of Execution
You can only levy on your debtor’s wage or other property by getting court permission, often through a writ of execution, writ of attachment, or writ of garnishment. Once you get a writ from a court, take it to a sheriff who will serve the document to the debtor. Keep in mind that the writ will expire if the sheriff does not execute it within a particular number of days. Thus, identify the property you wish to take first before you obtain a writ of execution.
Hire a Collection Attorney
Hiring a collection lawyer provides you with a better chance of collecting what’s owed to you. You can expect them to adhere to the laws and court processed. With their services, you can focus on other important aspects of your personal and professional life.
In addition, paperwork is a significant part of judgment collections and wage garnishment. An experienced lawyer will ensure all the necessary paperwork is provided to the court on time. Sometimes, a court may void collection if you cannot present a debt validation.
Wage garnishment requires legal help. And your debtor has rights. Violation of these rights can result in the disqualification of your claim. As you try to collect on a judgment, you don’t want to lose money in every turn which could happen when you make mistakes. A reliable attorney will help you avoid this.