What are all my rights to better my chances of collecting my money once I win a judgement from the courts?
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What are all my rights to better my chances of collecting my money once I win a judgement from the courts?
If I win a judgement against an individual how do I determine what assets he possesses? When I discover those assets am I allowed to repossess or would I have to put a “lien” on the asset? Lastly, how do I protect myself from the defendant being notified that there is a lawsuit and then he signs over all his assets to another person?
Asked on January 19, 2012 under Bankruptcy Law, Texas
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Your question addresses the age old question of the problem of collecting upon a judgment once obtained. Typically the judgment creditor has an abstract of judgment issued and then recorded in the county recorder's office.
Afterwards, you can levy upon bank accounts and other assets of the judgment debtor via post judgment collection practices. There are forms to do this which need to be filled out, issued by the court clerk and served upon the judgment debtor by the county sheriff's office.
If assets are signed over by the judgment debtor to a third person to keep you from getting the assets, you would have a basis for bringing a whole new legal action against the judgment debtor and third person for fraudluent transfer of assets per code.
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