Collection Judgment in Arkansas, Tennessee, Texas, Indiana, and Kentucky
Second to receiving payment of a debt upfront, obtaining a collection judgment is a favorable outcome if you are a creditor. If you file a claim against a debtor in order to secure payment, you may be able to resolve the dispute in two ways. With the aid of a skilled collection attorney, you may be able to negotiate some form of payment.
If, despite the efforts of your lawyer you are unable to negotiate payment, you must go to trial. At trial, you once again require the assistance of an experienced attorney. Upon conclusion of the trial, the judge issues a written collection judgment explaining who won or lost and the amount owed. As the person who was owed money, you are known as the judgment creditor. The defendant who owes you money is known as the judgment debtor. After the trial, it is your responsibility as the creditor to collect the payment. Following are methods of obtaining an collection judgment:
- An agreement between the creditor and debtor: The creditor and debtor negotiate some form of payment for the debt.
- Execution of judgment: The judgment creditor must obtain a writ of execution and give it to the sheriff. The sheriff then seizes the property of the debtor for sale. The proceeds of the sold property go towards payment of the debt.
- Supplemental proceedings: The judgment creditor summons the judgment debtor to appear in court for questioning as to why payment was not received. Here the judgment creditor has the opportunity to discover if the judgment debtor has any assets or property to satisfy his or her debts.
Contact a seasoned debt collections attorney to receive assistance in obtaining a collection judgment.
