When a person or company owes you money, it may be necessary to take them to court in an effort to collect what is owed. If you are successful, you may obtain a money judgment. Obtaining a money judgment does not automatically take money from the judgment debtor and give it to the judgment creditor. After the judgment is obtained, there are other steps that may be necessary to collect what is owed pursuant to the judgment.
The Florida Small Claims Rules, applicable in Jupiter, Palm Beach County and throughout Florida, contain what is called a "Fact Information Sheet". Fla.Sm.Cl.R., Form 7.343. This form is helpful to the judgment creditor in that it requires the judgment debtor to list assets and income that may be used in satisfying the judgment.
Another way to ascertain the assets of a judgment debtor is to subpoena the debtor for what is called a "deposition in aid of execution". At that deposition, the creditor will have an opportunity to inquire of the debtor, under oath, regarding all of the assets and liabilities of the debtor. The creditor may also require the debtor to produce documents substantiating the debtor's financial condition.
Garnishing wages or bank accounts is another way to partially or fully satisfy a money judgment. A creditor can find out about a debtor's employment or where the debtor may maintain bank accounts by requiring the debtor to complete the Fact Information Sheet mentioned above or by taking a deposition in aid of execution.
The judgment creditor should also record a certified copy of the judgment in the official records of any county where the judgment debtor may have land or real property pursuant to Florida Statutes section 55.10. The recording of the judgment pursuant to the terms of this statute creates a judgment lien against any land or real property owned by the judgment debtor in the county where the judgment is so recorded. For example, if a creditor obtains a money judgment against a debtor who owns property in Jupiter or Palm Beach Gardens, the creditor should record a certified copy of the final judgment in the Official Records of Palm Beach County, Florida.
This blog post briefly covers some tools that are available to a judgment creditor in satisfying a money judgment. There are additional rules and nuances contained within Florida law that must be followed. If you are interested in retaining my services to attempt to obtain a judgment and then collect on it for money that is owed to you or your company in Jupiter, Palm Beach Gardens or throughout Florida, please feel free to contact me at (561) 602-4447 or liz@elizabethmontgomerylaw.com or visit my website at http://elizabethmontgomerylaw.com
The Florida Small Claims Rules, applicable in Jupiter, Palm Beach County and throughout Florida, contain what is called a "Fact Information Sheet". Fla.Sm.Cl.R., Form 7.343. This form is helpful to the judgment creditor in that it requires the judgment debtor to list assets and income that may be used in satisfying the judgment.
Another way to ascertain the assets of a judgment debtor is to subpoena the debtor for what is called a "deposition in aid of execution". At that deposition, the creditor will have an opportunity to inquire of the debtor, under oath, regarding all of the assets and liabilities of the debtor. The creditor may also require the debtor to produce documents substantiating the debtor's financial condition.
Garnishing wages or bank accounts is another way to partially or fully satisfy a money judgment. A creditor can find out about a debtor's employment or where the debtor may maintain bank accounts by requiring the debtor to complete the Fact Information Sheet mentioned above or by taking a deposition in aid of execution.
The judgment creditor should also record a certified copy of the judgment in the official records of any county where the judgment debtor may have land or real property pursuant to Florida Statutes section 55.10. The recording of the judgment pursuant to the terms of this statute creates a judgment lien against any land or real property owned by the judgment debtor in the county where the judgment is so recorded. For example, if a creditor obtains a money judgment against a debtor who owns property in Jupiter or Palm Beach Gardens, the creditor should record a certified copy of the final judgment in the Official Records of Palm Beach County, Florida.
This blog post briefly covers some tools that are available to a judgment creditor in satisfying a money judgment. There are additional rules and nuances contained within Florida law that must be followed. If you are interested in retaining my services to attempt to obtain a judgment and then collect on it for money that is owed to you or your company in Jupiter, Palm Beach Gardens or throughout Florida, please feel free to contact me at (561) 602-4447 or liz@elizabethmontgomerylaw.com or visit my website at http://elizabethmontgomerylaw.com
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