When you win a judgment in court, you get a written statement from the court which lists the judgment and the sum awarded to you in the form of damages. The defendant, in this case the debtor, can appeal the judgment and the sum awarded with the hopes of overturning the judgment. In California, the courts usually call for a hearing in such a case so that they can better understand the legitimacy of the compensation. In California, the chances of overturning the original judgment are rare. But they don’t usually overrule the original damages claim.
A judgment can be very powerful, since it permits the creditor to use the Courts in order to straightforwardly seize the resources of the debtor; which can be property or cash or both. In most states including California, the judgment only lasts for 10 years. There is a limit on how long a judgment can stand. So when it expires, the judgment has to be renewed if you still want to continue. The compensation awarded keep gathering interest, sometimes at 7% and regularly at 10%. At this rate, the interest doubles the original sum in a few years.
There are many things you can do to claim your reward, but there are some things that you need to avoid at all costs as mentioned below:
1. Lie or put forth deceptive expressions to seek payment.
2. Annoy or harass the debtor.
3. Approach someone else for more than the essential data about the debtor’s location.
4. Unless the creditor has a wage withholding order from the court, the creditor cannot tell others, especially his employers that the debtor owes you money.
5. Contact you at unreasonable hours, like before 8 am in the morning or after 9 pm at night.
What you can do is to get a Writ of Execution from the court. It allows the police of that region or city to:
1. Seize financial balances of any sort, including checking and reserve funds.
2. Confiscate salary.
3. Grab any hard resources that can be discovered.
4. Seize obligations owed to the judgment indebted person.
5. Grab any benefit of significant worth claimed by the judgment account holder that the law did not excluded from execution.
Genuine property possessed by the judgment account holder may likewise be confiscated. In this regard, an archive called an “abstract of judgment” is documented. It goes about as a programmed lien against any property claimed by the account holder inside the province.
The creditor obviously wants to find the assets of the judgment indebted person so they can be recovered. The creditor can ask the court for an Order of Examination, which allows the creditor to ask the debtor about the whereabouts of their property under oath. If the debtor fails to show up, the judge can issue a warrant for his arrest. The judgment indebted person usually doesn’t make it that simple for the judgment creditor, and will often endeavor to conceal resources or exchange them with outsiders. After he tells the creditor everything under oath, the creditor can ask the judge to order the debtor not to move his holdings.
A regular response of a judgment indebted person who knows theya re going to balled upon to satisfy the judgment is to move resources into their companion’s or their relative’s name. In any case, unless an honest exchange is paid for the transactions (in that case the indebted person must verify for what happened to the cash), the person who got the property can wind up as a litigant in a lawful activity brought by the judgment creditor. In this case, a lawsuit that the exchange was designed to cheat him.
It is often troublesome for someone who has spent months or years battling a case to understand that the triumph in court wasn’t the last of it, but rather simply the start of another procedure. There is often a resulting feeling of profound disappointment that extreme measures must be taken to acquire the compensation at last.