Finding Hidden Assets
In the event that the enterprise to be sued doesn’t have any valuable assets that can be legally taken, suing would be pointless. Once the court orders an amount of money to be awarded as a part of a civil action, a judgment is granted, which is just a court order for the defendant to pay money. It is very unusual for the defendant to just pay back the money ordered in the judgment then and there. The court just issues an order for payment; however, it is the plaintiff’s responsibility to collect. A judgment is valid for 10 years; however, it could be extended to be permanent. But, this necessitates that the defendant, (debtor), be questioned about their financial status in a hearing or deposition under oath. In the event that the debtor will hand over an asset like a vehicle or boat, make sure you perform a search of assets prior to taking ownership. Should you discover any liens against the asset, you might be taking legal responsibility for that lien.
Marcadis Singer PA’s expert collections attorneys will work tirelessly on your behalf. We are dedicated to providing you with the most efficient and professional service possible. Our collections attorneys are skilled in both commercial collections and consumer collections. Contact Marcadis Singer PA today to take back what is owed to you.