Most people are not aware on what happens after they have won a lawsuit. One thing they don`t know is that after winning, payment doesn’t come automatically and it is between them and the concerned party to organize on how to settle the payments. Most businesses and large organizations do not have problems settling any judgment ruled against them. However, there are some who will not be willing to pay with the reason that they are broke or they might hide their assets proving impossible for one to collect their judgment. This should not keep you worried since there are legal ways of forcing them to pay. The most crucial thing is to know what happens once you win a lawsuit. There are a number of ways one can initiate in collecting their lawsuit.
One of the most basic and simple way to collect your judgment is simply by asking the other side to pay. This might appear apparent but if you ask nicely, a great number of people will settle the judgment comfortably up to the last coin. One ought not to assume even if the court has ruled and also understand that it might seem your right but it can take you forever to collect it. Observe polite etiquette and courtesy when doing this.
If the person refuse to pay, the next initiative is to look for their easy assets. With the court ruling, you have the right to visit the debtors` bank account and/or wages so as to get your payment. This has been used by most people in settling their claims as its procedures are simple and cheap. The only problem with this method is that the person must be left with amounts to sustain them.
There is another option of collecting your judgment if the above fails. You can now move on to their properties and the best way to begin is by looking first at their liquid assets they possess. A little survey before even presenting the person in court will help in determining the security of their assets. Forcing the debtor to sell their property might be convoluted and costly but at times it might be the only solution to collect your lawsuit.
It is not a surprise to do the above and find that you still can’t settle your claim. Consider the amount the debtor can raise and the duration it takes to raise and perform proper calculations. There is no need of spending so much money to acquire a claim not worth it and sometimes you just have no other option other than settling for less. It can trigger the debtor to pay.
Other options available for collecting your lawsuit includes selling the claim to someone else. There are agents who will buy and follow the claims themselves. One can also engage a private detective in the thought that the debtor is hiding his/her assets so as not to pay. This helps in identifying assets which they own and they can be sold to collect the lawsuit.Read More