Judgment Domestication Law Firm- No More Panic Over Out Of State Debtors
One may have often heard about people suing companies or individuals in court. A judge will either rule in favour of the person demanding monetary compensation or the one asked to pay. You see movies and read about cases where the judge announces a certain amount to be paid, and the case is closed, but what about that payment. Who sees through the process to ensure that the complete amount is paid off? A Judgment Collection Lawyer assists the person to retrieve the debts they are owed with minimal disturbance.
Procedure For Judgment Collection
The court clerk mails the verdict to the judgment creditor approximately a week after the announcement. The creditor then contacts the judgment debtor to pay off his debts. Usually, the court orders the money to be paid as a whole and not in installments. However, if the debtor makes a plea, a judge can permit him to pay the money in installments. If the number of debtors is more than one, they are supposed to reach a common consensus and divide the amount to be paid amongst them. Debt can be paid in cash, assets, real estate property, business ownership, etc.
Things To Consider If You Are A Judgment Collector
- Debtor’s Income: Ensure that the debtor has a stable income. This proves beneficial in case the payment is to be done in installments. Also, make sure that he has a legitimate bank account to transfer funds.
- Properties Owned By The Debtor: If the debtor fails to pay the debt through cash, you must be informed about his assets. This allows you to counter excuses the debtor may give to get out of completing the payment.
- Lawyer: Choose a good lawyer to help you through this process. Since judgment collection is a long course, it is necessary to have professional help in any hiccups.
Domestication Of Judgment
Sometimes, despite a verdict being announced, the creditor is unable to cash in the debt. This is due to the location of the debtor. If the debtor lives outside the state where the judgment was announced, the creditor must file a new lawsuit in the state where the debtor resides. This is a tedious process since no one enjoys regular trips to the court. However, Judgment Domestication Law Firm has now been made simpler through the Uniform Enforcement of Foreign Judgments Act. This act requires the creditor to present proof of the previous verdict, the address of the debtor as well as his own, and a menial fee.