IS A JUDGMENT REALLY NOT WORTH ANY MORE THAN THE PAPER IT IS WRITTEN ON (or is there anything I can do with it other than wipe……….)??
While there are situations when a Judgment is very difficult to collect, we run into situations all the time where a company has a judgment against another company and simply fails to do anything with it. Doesn’t even try to do anything substantial to collect it.
We worked with one company who owed money to a creditor and the creditor actually obtained a judgment-before we got involved in the case. We were just hired to try to work on a settlement of the judgment and obtain a payment arrangement. We waited and waited for the attorney who had obtained the judgment to do something. He never picked up the phone, lifted a finger or typed one letter on his keyboard related to collecting the judgment. For most of that time, the business was operating and there was plenty the lawyer could do to collect the judgment. Yet he did nothing. Of course, I wasn’t going to call him and ask him to work something out, so we just kept on waiting and nothing happened.
We see this level of activity on the part of debt collectors regularly-that is to say, not much activity. Sometimes it is actually NO activity. This is despite the fact that Texas law allows a wide range of legal actions to be pursued on behalf of a creditor who has a judgment. These legal actions can go all the way from forcing the debtor to list every asset they have and where it is located to obtaining a court order to a completely unrelated third party who owes the debtor money. In that type of situation, the Court actually signs an Order requiring the unrelated company to pay any funds it owes to the debtor into the bank account of the Court (called the court registry) and then can determine that all of those funds will then be paid to the Creditor. If that other company doesn’t pay the funds to the Court Registry, they can be held in contempt of court. A judgment creditor’s attorney can even ask the sheriff to go seize property of the business debtor at his primary location. Believe it or not, the attorney for the judgment creditor can surprise the debtor’s bank with a court order freezing all of the debtor’s payroll accounts until the matter is resolved. There are other actions that can be taken as well.
Once you see all the actions we can take in pursuit of your judgment, why not give us a call to see what we can do for you. You may even have an attorney or collection agency working on your judgment for you who is more in the first category and could probably be taking more action on your behalf. Either way, click here to request a free consultation or call us at 214-228-0161.