Creditor Debtor Judgment Enforcement Collection Adkisson's CREDITOR DEBTOR LAW An Overview of Creditor-Debtor Law and Judgment Enforcement Techniques Home CAUTION STATE LAW VARIANCES Judgment enforcement law is notoriously non-uniform between the various states. Obtaining a judgment is often not the end of the case, but just the beginning of post-judgment enforcement proceedings. In the vast majority of court cases in the United States, if a party loses that party will simply pay the judgment, particularly if it is a claim that is covered by insurance. But in a very substantial number of cases, the debtor doesn't pay: What then? The creditor is left holding a judgment and wondering whether it can be monetized. What is an judgment worth? The value of a judgment is determined by the following formula: The face value of the judgment; Limited by what can be collected from the debtor; and Less the attorney's fees and other costs of collection. Thus, a creditor may hold a judgment for $10 million against a debtor who is truly penniless; the value of that judgment is zero, or may even be negative if the creditor expends any significant money in a vain attempt to collect. Similarly, a judgment for $25,000 may also be worth nothing, or have a negative value, if the expenses to collect that judgment meet or exceed its value. This website focuses on the processes and techniques that are used to collect on unpaid judgments, based on the personal experience of the author as an attorney who represents both creditors and debtors in post-judgment enforcement proceedings. RECENT ARTICLES BY JAY ADKISSON 2017.05.16 ... 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Form of Judgment for Collection - Getting the form of judgment right can make collection easier, and getting it wrong more difficult. Judgments On Appeal - Is a judgment enforceable when it is being appealed? Maybe. Appeal bonds a/k/a supercedeas bonds also discussed. JUDGMENT ENFORCEMENT DISCOVERY - It's difficult to collect against the debtor's assets unless you find them, and it can be difficult to find them. Private Investigation - Non-judicial methods of investigating the debtor's assets and affairs, including database searches and the use of private investigators. Written Discovery - Some states allow for written discovery to be propounded to a debtor, which is a good way to start accumulating information from the debtor, or at least what the debtor claims is his assets. Debtor Examinations - The traditional way of obtaining information from a debtor, which is to haul them into court, sit them down at a table, and ask questions point-blank about assets and income. Third-Party Examinations - Means of obtaining discovery from third-parties about the debtor's assets and affairs. JUDGMENT ENFORCEMENT REMEDIES - The primary methods for taking assets and income away from the debtor. Judgment Liens and Abstracts of Judgment - Ways of freezing assets so that they cannot be easily transferred away pending execution. Writ of Execution - This document authorizes the Sheriff to make collections on behalf of the debtor, and some other stuff. Writ of Garnishment - Used to collect wages and against income streams in some states. Federal Wage Garnishment Law (FWGL) - 15 U.S.C. sec. 1671 provides nationwide wage exemption. Writ of Levy - The remedy that allows the Sheriff to grab the asset and auction it off on the courthouse steps. Charging Orders - The "exclusive" remedy against a debtor/member's interest in a partnership, limited partnership, or limited liability company. Assignment Orders - An order used to intercept income streams, such as advertising revenues, royalty payments, etc. Creditor Suits - Actions taken against a third-party who has possession of an asset that is still titled in the name of a debtor, or who has violated some other enforcement process. Receivers - Often the end-game strategy to take a difficult debtor down, by having the court appoint a neutral with all the powers of the debtor, such as to sell season football tickets, or dissolve corporations. OTHER JUDGMENT ENFORCEMENT THEORIES - While technically not "remedies", these bodies of law are often used in judgment enforcement proceedings. Alter Ego and Veil Piercing - Cutting through corporations, trusts, and LLCs which are simply the debtor himself in another form. Voidable Transactions (was Fraudulent Transfer and Fraudulent Conveyances) - Used where title has been transferred to a third-party. OPINIONS -- Interesting opinions in creditor-debtor law. Debtor Examinations Kyne v. Eustice, 215 Cal.App.2d 627, 30 Cal.Rptr. 391 (1963). Garnishment/Wage Exemptions In re Foster, 556 B.R. 233 (Bk.E.D.Va., 2016). Trusts Church Joint Venture, L.P. v. Blasingame, 2020 WL 284527 (6th Cir., Jan. 21, 2020). LAGNIAPPE - A potpourri of stuff. Articles on Judgment Collection - Articles on creditor-debtor law written by Jay Adkisson for his popular Forbes.com . About Jay Adkisson - Abbreviated background of the creator of this website and Jay's contact information OTHER INFORMATIONAL WEBSITES BY JAY ADKISSON Jay Adkisson - More about Jay D. Adkisson, background, books, articles, speaking appearances. Captive Insurance - Licensed insurance companies formed by the parent organization to handle the insurance and risk management needs of the business. Asset Protection - The all-time best-selling book on asset protection planning by Jay Adkisson and Chris Riser. Voidable Transactions - Discussion of the Uniform Voidable Transactions Act (a/k/a 2014 Revision of the Uniform Fraudulent Transfers Act) and fraudulent transfer law in general. Private Retirement Plans - An exploration of a unique creditor exemption allowed under California law which can be very beneficial but is often misused. Charging Orders - The confusing remedy against a debtor's interest in an LLC or partnership is explained in reference to the Uniform Partnership Act, the Uniform Limited Partnership Act, and the Uniform Limited Liability Company Act. Protected Series - An examination of the single most complex statutory legal structure yet created, with particular reference to the Uniform Protected Series Act of 2017. California Enforcement of Judgments Law - Considers the topic of judgment enforcement in California, including the California Enforcement of Judgments Law and other laws related to California creditor-debtor issues. Anti-SLAPP Laws - A collection of and commentary about Anti-SLAPP laws and significant court decisions on the subject within the United States, with special California Anti-SLAPP section. Contact Jay Adkisson: Phone: 702-953-9617 Fax: 877-698-0678 jay [at] jayad.com Unless a dire emergency, please send me an e-mail first in lieu of calling to set up a telephone appointment for a date and time certain. Las Vegas Office: 6671 S. Las Vegas Blvd., Suite 210, Las Vegas, NV 89119, Ph: 702-953-9617, Fax: 877-698-0678. By appointment only. Newport Beach Office: 100 Bayview Circle, Suite 210, Newport Beach, California 92660. Ph: 949-200-7773, Fax: 877-698-0678. By appointment only. Social Media Contact: Twitter and LinkedIn Admitted to practice law in Arizona, California, Nevada, Oklahoma and Texas. Jay is a Managing Partner of Adkisson Pitet LLP. © 2021 by Jay D. Adkisson. All Rights Reserved. No claim to original government works. The information contained in this website is for general educational purposes only, does not constitute any legal advice or opinion, and should not be relied upon in relation to particular cases. Use this information at your own peril; it is no substitute for the legal advice or opinion of an attorney licensed to practice law in the appropriate jurisdiction. This site https://creditordebtor.com Contact Jay Adkisson by phone to 702-953-9617, by fax to 877-698-0678, or by e-mail to jay [at] creditordebtor.com