Judgment collection refers to the process where a creditor seeks to enforce a court-ordered judgment for debt repayment by legally obtaining assets or funds from a debtor. After a court rules in favor of the creditor, the judgment must be executed, as the court does not automatically collect the debt. This process may involve various methods such as garnishing the debtor’s wages, seizing bank accounts, placing liens on property, or auctioning off assets.
Creditors use various strategies to collect a judgment in Florida, focusing on the debtor’s assets and income sources. Here are the main ways a creditor can collect a judgment in Florida: Wage Garnishment This involves…
A lis pendens in Florida is a legal notice filed in public records indicating that a property is subject to a pending lawsuit that may affect its title or ownership. This notice warns potential buyers…
The Small Business Administration (SBA) has specific procedures for debt collection when a borrower defaults on an SBA loan. When a borrower defaults on an SBA loan, the lender typically sends a notice of default….
What Is Judgment Lien Renewal? A judgment lien renewal is a legal process that extends the duration of a lien placed on a debtor’s property due to an unpaid court judgment. The purpose of a…
What Are Proceedings Supplementary? Proceedings supplementary are legal tools creditors use to collect a judgment that has not been fully satisfied. They are initiated after a creditor obtains a court judgment but finds that the…
A sheriff’s levy to satisfy a debt judgment in Florida involves several key steps. These steps ensure that the levy is carried out legally and fairly. Here’s an overview of the general procedure: Debtor Rights…
Execution and levy in Florida refer to legal processes for enforcing court judgments, particularly in debt collection matters. An execution is a court order that permits the seizure of a debtor’s assets, while a levy…
What Is a Writ of Execution? A writ of execution is a court order in Florida that enforces a judgment of possession against a debtor’s property. This legal instrument is typically issued after a creditor…
What Is a Judgment Lien? A judgment lien is a way to encumber a debtor’s property, granting the creditor a legal right to collect what they are owed if the property is sold or refinanced….
Garnishing or levying a bank account is one of the most effective means for a judgment creditor to satisfy an outstanding judgment. However, to do this, the creditor must first find out where the debtor…
