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How to Collect Money Owed After a Judgment Has Been Issued Against Your Debtor

Posted on in Debt Collection

chicago creditors rights attorneyWe have all heard the saying “money is not everything” at some point in our lives. While the phrase is a classic adage for a reason, there are situations in which money is, in fact, the most important thing. It is not uncommon for people to borrow money for a variety of purposes, such as purchasing a home or buying a vehicle. However, when they do not follow their promise to repay that money, they can find themselves in trouble. As a creditor, you have the right to take action against anyone who does not abide by the terms of your repayment agreement. In some cases, this may lead to filing a lawsuit against the debtor. If you are successful, you can then have a judgment entered against your debtor, providing you with several options for collecting the money owed to you.

Citations to Discover

In most cases, the first step taken to recover payment is filing a citation to discover, which is a tool that allows creditors to uncover, freeze, and recover assets from a debtor. A citation to discover creates a continuing lien or freeze on all of the debtor’s eligible property, preventing them from using or disposing of the assets. The main benefit of the citation to discover is that it can uncover all of the assets a debtor has. You will determine which assets you can and cannot focus on recovering to satisfy the amount owed to you.

When you file a citation to discover, you must also serve your debtor with these forms. However, you cannot personally do so -- you must use the county sheriff or you must hire a private process server to deliver the forms. Once the forms have been delivered, your debtor will be required to appear in court. If they do not appear, the judge may find them in contempt of court. If they do appear, you will be permitted to ask the debtor questions about his or her income, property, and other assets. You can ask the debtor if they will agree to a payment plan for their debt owed. If they do not agree to the payment plan, you can ask the judge to award you certain assets from the debtor’s estate to satisfy the judgment. 

Discuss Your Situation With a Chicago, IL Judgment Enforcement Attorney

Even if you have successfully had a judgment entered against your debtor, you are not guaranteed payment. At Walinski & Associates, P.C., we can help you determine your best options for obtaining payment from your debtor, whether through wage garnishment, repossession, or other methods. Our team of skilled Cook County judgment enforcement lawyers have more than 40 years of experience helping clients recover money and assets that rightfully belong to them. To schedule an appointment to discuss your situation, call our office today at 312-704-0771 for a consultation.

 

Sources:

https://www.illinoiscourts.gov/Resources/45fc5832-c095-4102-ac7e-e1940c1e8244/Citation_Discover_Assets_Debtor_Instructions.pdf

https://www.thebalancesmb.com/how-do-i-collect-on-a-small-claims-judgment-398830

 

Illinois Creditors Bar Association Chicago Bar Association Illinois State Bar Association
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