The client’s goal in litigation usually is to win and to get paid. Many clients believe that a judgment entitles them to get paid. However, courts do not award money, they award judgments. This is only a piece of paper and it is up to you as a creditor to collect the money owed on a judgment. The reality is, year after year, over 80% of these orders issued by courts in the United States go uncollected. Why? Because judgment enforcement is a very complex and nuanced area of the law, and the vast majority of attorneys do not have the knowledge or experience to collect a judgment for their clients. While many attorneys are capable of obtaining judgments, very few are capable of collecting them.
The Denver judgment enforcement lawyers at Reynolds Gillette LLC can help you with this process. Our firm’s attorneys are experienced in taking every necessary step to locate debtors. We will ensure the judgment is proper and final, record transcripts to create liens, locate collectible assets, address debtor’s defenses and claims for exemptions, including homestead exemptions, freeze assets, garnish wages, and levy and execute on the debtor’s assets.
A judgment is a civil court order stating that one party is entitled to money from another party. It may be issued by a civil court as the resolution of a civil lawsuit. A civil judgment may also be issued based on a monetary award obtained through arbitration, or based on a restitution order issued in a criminal case.
The important thing to remember is that a judgment carries the full weight of the law. The debt is no longer in dispute, and the party holding the judgment may ask the court to get involved if the debtor does not voluntarily satisfy it. A Denver attorney could provide support in the event that a legal judgement needs to be enforced.
There are two factors to judgment enforcement. First, there must be a judgment. Typically, one will be issued by a state court as a result of a lawsuit. However, a creditor may have an out-of-state or foreign judgment against a debtor. In that case, a Denver attorney can domesticate the foreign judgment under state law so that enforcement actions can be taken in this state.
Second, the debtor must have collectible assets located in the state. These assets may consist of real property, tangible personal property, financial or investment accounts, wages and income, as well as accounts receivable and other monies owed to the debtor. An experienced lawyer can assist you in determining exactly what assets a debtor has to satisfy your judgment.
A Denver lawyer could assist you in ensuring your judgment is final and entitled to enforcement. One of the first steps to judgment enforcement may be to record transcripts of the judgment in the various counties where the debtor may own real property. By properly recording transcripts of the judgment, a creditor creates a lien on the debtor’s real property.
An attorney could also obtain financial records and documents directly from the debtor, and will also issue subpoenas to third-party banks and financial institutions to track the debtor’s payments and receipt of funds.
The attorney should also look to collecting the debtor’s wages through writs of garnishment and to levying on the debtor’s personal property through writs of execution and levy. The lawyers at Reynolds Gillette LLC are also experienced at determining a debtor’s ownership interests in companies and at obtaining charging orders to collect the debtor’s financial interests in those companies.
Finally, an experienced lawyer may also look to third parties who owe money to the debtor and to third parties to whom the debtor may have transferred money or other property. These third-party issues often result in ancillary litigation asserting claims of fraudulent conveyance or aider and abettor liability.
Receiving a judgment against another party is the first step to recovering what you are owed. However, this outcome may be of little value if you are unable to enforce that judgment. Debtors may claim poverty, allege that they no longer have possession of property, or even disappear.
When this occurs, you may need help from a Denver judgment enforcement lawyer to protect your legal right to payment. If you are a creditor with an uncollected judgment, Reynolds Gillette LLC can help you turn that piece of paper into actual cash. Contact our firm for a free case evaluation today.
Reynolds Gillette LLC