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Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
    • Real Estate & Commercial Finance
  • Our Attorneys
  • About Us
    • Our Approach
    • History
    • Law Lists
    • Professional Memberships
    • Careers
  • Resources
    • Bernstein’s Dictionary of Bankruptcy Terminology
    • Links
    • Five Minute Legal Master videos
    • Blog
    • Legal Publications
  • News
    • Cases Archive
    • Firm News
    • In the News
    • Industry News
  • Contact
Q&A
Q&A

What does “discovering assets” mean?

Posted on October 29, 2012 by Bob Bernstein

Creditors’ Rights 6

A: Let’s say that you have just won your court case against your debtor and have obtained a money judgment, which is a court determination that the debtor owes you a specific amount of money as damages.

Translating the legal piece of paper that says “judgment” into actual dollars can be the hardest part of all! Therefore, you may need to discover assets of the debtor from which your judgment can be paid, which means finding out even more information than you already know about the debtor’s assets.

There are many places to conduct research, such as the County Tax Assessor’s Office (to see if the judgment debtor owns real estate), the Pennsylvania Department of Transportation (to see if the judgment debtor owns motor vehicles), and the County Prothonotary’s Office (to see if your debtor has money judgments against others, which can then be garnished).

But since there are many places to look for assets and several methods to be used, locating the debtor’s assets can be complex. We suggest hiring a creditors’ rights law firm to help increase the odds of getting back what is legally owed to you.

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