Suing someone in court can be an overwhelming process. Unfortunately, even if you win your case, the battle to collect your money has really just begun. A seasoned collections attorney in New Jersey can walk you through the steps of collecting on a money judgment.
The Money Judgment
The threshold to starting any type of collections proceeding is to win your case at the trial level. Once you have that written money judgment in hand, only then can collections begin.
Basic Collections Techniques
As your collections attorney in New Jersey can explain, even after you have your money judgment, you still have to go after the defendant to get paid if they won’t come forward willingly. There are a variety of collections tools available. Some of the most common include:
- Wage Garnishment
- Property Seizure
- Bank Levy
In a garnishment, you can potentially get a portion of the defendant/debtor’s wages paid directly to you. The downside here is if the defendant does not earn a traditional paycheck, a garnishment may not be possible.
If you can locate personal property the debtor owes, you may apply for a seizure order, and the property can be sold at a sheriff’s auction to reimburse you for part of your money judgment.
A bank levy can also be a very effective tool. You may seize a portion of the debtor’s funds on deposit.
What to Do If You Can’t Find Assets to Collect
As your collections attorney in New Jersey can explain, any of the above collections techniques requires you to have specific knowledge of where the defendant works, banks, or property they own. If you don’t know this, you may need to serve the defendant with a subpoena to come to court and testify about their assets. Once this happens, you can then proceed with some or all of the collections tools available.
Find Legal Help Today
For more information about obtaining a money judgment and getting paid, contact an experienced collection attorney in New Jersey. To make an appointment to discuss your case, call the offices of Snellings Law LLC at 973-265-6100.