Skip to main content
Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
  • 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
CALL - 412 456 8100
Connect
  • Facebook
  • Twitter
  • LinkedIn
Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
  • 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

Why is winning a judgment just the beginning?

Posted on October 29, 2012 by Bob Bernstein

Creditors’ Rights 11

Q: I’ve heard it said that sometimes winning a judgment in a case is just the beginning for a creditor. Why is that?

A: Even after the debtor receives notice of the judgment-basically, an order from the Court to pay up- there’s a good chance that he or she will not comply. As a creditor, you may need to locate assets of the judgment debtor that can be involuntarily liquidated to satisfy your judgment. This can be the most difficult part of your pursuit of the debtor: transforming that piece of paper that says “judgment” into actual dollars. Where do you start looking for assets?

  1. Check the debtor’s credit application, which should contain bank account information.
  2. Look for a financial statement from the debtor you may have in your files. If you required the debtor to submit a financial statement prior to your initial extension of credit, that document can contain a wealth of asset and liability information.
  3. Search public records on the web to determine if the judgment debtor owns real estate.
  4. Consult your attorney to determine what other asset discovery can be engaged.

 

Share on:
  • Facebook
  • Twitter
  • LinkedIn
Bernstein Burkley

Copyright © 2023 Bernstein-Burkley

best lawyers 2022lawyer of the year Harry Greenfield
ones to watch best lawyers 2022

 

 

Top Bankruptcy Attorney in Cleveland

Links
  • Disclaimer
  • Knowledge Base
  • Privacy Center
  • Site Map

Bernstein-Burkley, P.C.

Phone: 412.456.8100

Fax: 412.456.8135

Email: info@bernsteinlaw.com

Connect