Collect My Court Judgment from Deposit Accounts

Collecting a court judgment from deposit accounts starts by identifying where the debtor’s funds are. Once you pinpoint the bank and account number, you can initiate a bank levy, a legal process where funds are withdrawn from the debtor’s account to satisfy the judgment.

How Do I Find Banks and Account Numbers?

Discovering banks and account numbers can be challenging. You might begin by examining any checks the debtor previously wrote. Additionally, conducting a debtor’s examination, where the debtor is questioned under oath about their assets, can reveal this information.

How Do I Get Confirmation of the Bank Account Number?

Once you believe you have the right bank and account number, send a writ of execution to the bank. The bank will then confirm if the account number matches the debtor’s name and provide details on the account’s status.

How Do I Get My Money If I’ve Found the Account?

Discovering a debtor’s bank account is a significant step in collecting a judgment. But how do you get your money once you’ve identified the account? The process, while methodical, is achievable with understanding and patience. Here’s a detailed breakdown:

• Verification of the Account: Before taking any action, ensure that the account you’ve found belongs to the debtor. Missteps here can lead to legal complications. Verification can typically be done through post-judgment discovery, where the debtor must disclose financial details.
• Initiate a Bank Deposit Account Levy: This is a legal mechanism where you, the creditor, request the court to issue a levy against the debtor’s bank account. Essentially, a bank levy orders the bank to freeze the debtor’s account, preventing any funds from being removed or spent.
• Obtain a Writ of Execution: To initiate a levy, you first need a writ of execution from the court that issued the judgment. This official document instructs the bank to freeze the debtor’s account up to the amount specified in the judgment.
• Serve the Levy: Once you have the writ of execution, you must serve the levy on the bank. This is usually done through a local sheriff or a registered process server. They will provide the bank with all necessary paperwork and inform them of the legal action.
• Wait for Compliance: After the bank receives the levy, they are legally obligated to freeze the debtor’s account for 21 days. This waiting period allows the debtor to contest the levy or pay the debt.
• Transfer of Funds: If there are no legal impediments after the waiting period, the bank will deduct the owed amount (up to the total available in the account) and send it to the court or the levying authority. This ensures the funds are handled appropriately and legally.
• Collecting the Money: Once the court or levying authority receives the funds from the bank, they will process and release them to you, often as a check. Note that this might involve some paperwork and additional waiting time.

While levying a bank account can be an effective way to collect on a judgment, it’s also a complex legal process. Missteps can delay your collection or even result in legal consequences. Always ensure that you’re proceeding correctly, and seeking advice or assistance from a professional can be invaluable when in doubt.

Are There Funds That Are Exempt?

Yes, certain funds are protected from creditors. Public benefits such as social security, welfare, unemployment, and workers compensation benefits are generally exempt. Additionally, some retirement plans and benefits can’t be touched by creditors. Make sure you’re not attempting to collect from an exempt source, or you might face legal repercussions.

What Happens If the Account I’m Seizing Is a Joint Account?

You’re entering a tricky legal territory when attempting to seize funds from a joint account as part of a court judgment. Joint accounts, by nature, belong to multiple account holders, meaning the money inside isn’t solely the property of one person.

A primary challenge here is determining which portion of the funds in the account belongs to the debtor. It’s not always an even split. For instance, while each account holder may own 50% of the funds in a joint account, the actual distribution could differ based on contributions made by each party. One person might have deposited 80% of the money, while the other only contributed 20%.

Additionally, the function and purpose of the joint account can impact the decision. Was it set up for household expenses? Is it used for business operations? Or perhaps it serves as a savings vessel for a specific future expenditure? The nature of the account can provide clues about the division of funds and their intended use.

Also, there’s the principle of “right of survivorship” in some joint accounts. If one account holder dies, the entire account’s funds go to the surviving party. This concept further complicates determining ownership percentages in certain situations.

Because of these intricacies, a court intervention might be necessary if there’s any doubt or contention regarding the division of funds. The court will carefully examine deposit records, account statements, and other relevant financial documents. They may also consider testimonies from the involved parties or financial experts. After a comprehensive assessment, the court will decide how much, if any, of the joint account can be seized to satisfy the judgment.

This entire process underscores the importance of proceeding cautiously and ensuring fairness and legality in the collection process.

What Is the Process of a Bank Deposit Account Levy?

A bank deposit account levy begins by obtaining a writ of execution from the court. Once you have the writ, you can command the sheriff or a levying officer to levy the debtor’s bank account. The bank will then freeze the funds for a specific period, allowing the debtor to claim exemptions. If no claims or challenges arise, the bank will transfer the funds to satisfy the judgment.

Do I Get Reimbursed for the Cost I Incurred in Enforcing the Judgment?

When you win a court judgment, it might feel like the battle is over. However, collecting the awarded amount can sometimes be as challenging as the lawsuit. And, as you dive into the intricacies of enforcement, you’ll quickly find that there are costs associated with this process.

So, the question arises: Can you get reimbursed for these additional expenses?

The good news is that, in many jurisdictions, the answer is “yes.” But let’s dive deeper into how this typically works.

Firstly, it’s crucial to understand the expenses that might be incurred during the enforcement process. Beyond the obvious legal fees, there are several potential costs:

• Court Costs: This includes fees for filing certain documents or motions post-judgment to assist with the collection.
• Levying or Sheriff’s Fees: If you employ the services of a levying officer or the local sheriff to seize assets or garnish wages, there’s typically a fee involved.
• Costs of Locating Assets: This can encompass fees paid to private investigators, online services, or other resources used to locate hidden or undisclosed assets of the debtor.
• Post-Judgment Interest: While not a cost you’ve incurred, you’re generally entitled to interest on the outstanding amount from the date the judgment was issued until it’s fully paid.

The key to reimbursement is thorough documentation. Meticulously record every expense, save every receipt, and maintain detailed logs of all attempts and actions to collect on the judgment. This streamlines the reimbursement process, ensures transparency, and builds trust with the court.

Also, you’ll often need to go back to court to have these costs approved and added to the judgment amount. This is typically done by filing a motion or application detailing the costs, supported by the evidence of these expenses. Once the court acknowledges and approves these costs, they become part of the judgment, increasing the amount the debtor owes.

Do I Need a Lawyer to Help Collect My Court Judgment?

Absolutely. The process of collecting a court judgment can be intricate and challenging. A knowledgeable personal injury lawyer can guide you and ensure you’re taking lawful steps to retrieve what’s owed.

Facing challenges in collecting a court judgment? Connect with an experienced personal injury lawyer through LegalMatch to ensure your rights are upheld.