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Slaying the Beast, Part 2: Debt Collection Post-Judgment

Now that you have crossed your eyes and plotted your liens in an effort to collect on a debt, you have a brand new judgment in your pocket and are now ready for action. You’ve done everything within your legal power up to this point. It’s time to finally get paid…one way or another.

Enter a World of Discovery

After winning the judgment, you’re now able to collect on the debt by way of a post-judgment discovery. A post-judgment discovery will allow you to locate the debtor’s assets and retain them as payment for the money you are owed.

It’s pretty simple. The court will pose questions to the debtor as to the whereabouts of his or her assets. If the debtor refuses to respond and reveal the location of their assets, they can be held in contempt of court and face jail time.

Abstract of Judgment

An abstract of judgment allows you to effectively put a halt to the selling of or purchasing of property by the debtor until they have paid their debt in full. The abstract of judgment is filed with the clerk in every county where the debtor owns property.

Putting a stop to the purchasing and selling of property may work against some debtors, but what if property really isn’t their thing? There are other options; namely, hit them in their wallet.

Freeze Their Funds

Okay, okay, a writ of garnishment, on the surface, looks like another lawsuit, but this one is filed against the bank where the debtor does business, effectively freezing their accounts. This is an effective method for debt collection post-judgment.

Account numbers? We don’t need no stinkin’ account numbers for a writ of garnishment! All you need to know is the name and location of the bank to file the writ.

Execution is Everything

When all else fails, it’s time to involve the local law enforcement by having the court clerk issue a writ of execution. Surely the flash of a badge will result in full payment. Once the court clerk issues the writ of execution, the sheriff or constable where the debtor resides will exercise his authority to collect any non-exempt property. This is most useful for operating companies because they don’t have any exempt property.

However, individuals have a lot of exemptions that would not be available to satisfy a judgment.

Here’s the best part: a writ of execution allows you to take any real property not considered a homestead, such as campers, weekend race cars, ATVs, etc. A writ of execution can also be used to sell real property owned by a company.

When it comes down to it, relief comes in many shapes and sizes for the collection of a debt post-judgment. Your best bet is to contact The Cromeens Law Firm for expert legal advice from Texans who have years of experience in navigating debt collection law.

The Cromeens Law Firm provides clients with experienced advice concerning Texas law in regard to debt collection. Speak with one of our experienced attorneys today by calling 713-677-2136 or contact us online to discuss your options.

This article is intended as a general educational overview of the subject matter and is not intended to be a comprehensive survey of recent jurisprudence, nor a substitute for legal advice for a specific legal matter. If you have a legal issue, please consult an attorney.

Karalynn Cromeens

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