If you’ve just won a court judgment against a client who owes you money, you may now be wondering exactly how you actually get the money. Once a court issues a judgment, that’s where its role essentially ends. The court does not get involved in the collection effort. That falls to you.
State laws vary, but generally a judgment is only valid for so many years (in Illinois, for example, you can pursue a judgment for seven years, after which you would have to renew). During this time there are a number of things you can do to enforce it, such as placing liens on real or personal property, garnish wages, bank accounts, etc. But how do you accomplish all this?
First of all, be aware that roughly 75% of judgments are never collected, according to statistics. This increases the difficulty you will face in collecting on the judgment. However, it is by no means an impossible task. There are options available to you, particularly if you hire a collections attorney who has expertise in judgment enforcement. In the next article we will discuss a few means by which a collections attorney can enforce a judgment and thus retrieve money owed to you.
The Jayaram Law Group routinely and successfully assists its clients in their business-to-business (b2b) collection needs. We take pride in obtaining payment on accounts receivables without fracturing critical business relationships or engaging in time-consuming and costly litigation efforts.
If you need business debt collection services conducted in a professional manner, contact our B2B (business-to-business) debt collection law firm by calling 312.454.2859 or visiting www.jayaramlaw.com.