judgement recovery
Labor Board Judgment
Ensure your Labor board judgment is enforced
When a labor board agrees with you and a judgment has been held against your employer or former employer, it feels good. However, the Labor board judgment is just the beginning. The ability to actually enforce your judgment, and obtain your money, can still be difficult.
Often, enforcement can fail due to a technicality. A Labor board judgment is only enforceable against the legal entity named in the judgment. Some employers may do their day-to-day business under one company name, but their formal legal name is different. If judgment was not filed using the legal name of the employer, obtaining payment can be difficult.
Similarly, an employer may go out of business before the judgment is enforced. Or if the judgment is against a subsidiary of a larger company, the employer may close that subsidiary and transfer operations to a different subsidiary. In either scenario, the company named in the judgment no longer exists to issue the payment.
Even if the employer continues to operate, payment may be difficult if the employer files for bankruptcy. You become one of many creditors of the company, and may be forced to delay receipt of your money. In some instances, there may be too many creditors for you to receive full payment, and you many receive only a portion of the judgment.
Unfortunately, there are also employers who just refuse to pay judgments. When an employer refuses to pay for any reason, you must spend more time and incur personal expenses to work with the police or the courts to enforce the judgment.
You can ensure you receive payment for the judgment, and that you receive it quickly, by transferring the judgment. By selling your rights to the judgment, you receive immediate cash and the enforcement of the judgment is left to a specialist. You are free from the time, effort, expense and stress of contacting the employer yourself. Start enjoying the money for which you had already worked so hard!
judgement recovery
How to Collect on a Judgment
Debtors frequently are unable to pay for their debts, due to the fact that they are financially troubled, have virtually no assets to recover, or are skilled at hiding their personal assets. Learning how to collect on a judgement is key if you are serious about recovering your assets.
When you are addressing the first condition, you could work together with the debtor if they are willing. The individual’s financial predicament might be short-term. If that’s the case, you could possibly work out a repayment plan or even make arrangements for future payments. If you’re dealing with the other circumstance, you may have some work to undertake. You may also find yourself back in the courtroom. At this stage, you will need to determine whether it’s truly worth your time and energy to go after your hard earned money.
Getting Your Money
Should your debtor be resistant to pay when they possess the means, ensure you get your local sheriff engaged. There are three possibilities: a standard bank levy, income garnishment, or even a lien on real estate.
Initially, you will need to obtain evidence of your right to collect from your local small claims court. Although the identity of the court-issued file could differ, it’s commonly known as writ of execution. The local sheriff will serve documents to the suitable association in order to collect from a debtor.
Seizing funds through your debtor’s accounts is known as a bank levy. You will need the bank name, account number(s) with the precise name of the account holder.
Your next approach to contemplate is a lien on real estate. Should the debtor have property or home, it is possible to claim a portion of its valuation. You could generate a lien by way of registering your judgment in the county in which the debtor possesses real estate.
The final and easiest method to collect can be garnishment of wages. Should the debtor be employed, you are allowed to collect as much as 25% of his / her income prior to the judgment being paid.
Call for Aid
If you do not wish to accept less and the other approaches don’t interest you, you have one remaining option to consider. You could contact an expert. A collection company can keep on top of the debtor plus collect on your judgment for a small fee. This means you will need to consider whether or not it will be worth the cost.