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It's Official Now! - David Bloys/TX
6/23/2007 10:42:15 AM (2578 views)

[+] Belated Mother's Day - Jay Duncan/MO (1 reply)
6/22/2007 11:59:23 PM (4117 views)

[+] Another India story.... - Candi Richter/NJ (11 replies)
6/22/2007 10:41:39 AM (3328 views)

[+] Fees for "Rush -Urgent" orders?? - george Hubka/MI (6 replies)
6/21/2007 9:14:35 PM (3254 views)

[+] RE; Title Marketing Rep - Thomas Doubler/OH (1 reply)
6/20/2007 11:27:03 AM (3202 views)




[+] Legal Descriptions - Scott Perry/PA (8 replies)
6/20/2007 9:06:30 AM (3298 views)

[+] ABSTRACTORS A GO GO, LLC - john franz/NJ (2 replies)
6/18/2007 1:10:55 PM (3377 views)

[+] Anybody had a client ask you to do this? - DB/NC (11 replies)
6/15/2007 4:12:15 PM (3353 views)

[+] Theft of All Ohio State Employees' SSN - Pete Kisan/OH (1 reply)
6/15/2007 11:25:01 AM (3373 views)

[+] Lets talk Tech - Wendi See/SC (14 replies)
6/14/2007 11:10:30 AM (3409 views)

[-] Filing judgments against non-paying clients - Danielle Nelson/WI (8 replies)
6/13/2007 12:40:01 PM (3385 views)
Re: Filing judgments against non-paying clients - george Hubka/MI
6/13/2007 1:00:49 PM (5210 views)
Re: Filing judgments against non-paying clients - Kevin Ahern/CT
6/13/2007 1:44:22 PM (5181 views)

There is a difference between a judgment and a judgment lien. In order to obtain a judgment you must first file a suit and win. Subsequent to winning your judgment you have a number of remedies available...one of which is securing your judgment by filing/recording a judgment lien. The lien creates a cloud on the title to the property encumbered thereby...real estate or personal property. It also creates a credit problem for the judgment debtor in the event that he/she/it is seeking an extension of credit from a lender or finance company.

I have not done much in the Bankruptcy Court in a few years, and the law has changed twice since then, but unless the rules have changed the following applies to judgment liens. Judicial liens (judgment liens and prejudgment attachments/garnishments among them) are dischargeable as preferential transfers in a bankruptcy, but in order to be dischargeable the judicial lien must be perfected (filed/recorded) within 90 days prior to the filing of the bankruptcy. If it is not discharged within said 90 days...it becomes a permanent lien, and is assigned a priority for payment by the Court. Statutory liens such as mechanic's liens are not subject to the 90 day rule of discharge.

Generally a judgment lien is a very effective way of getting paid. Most defendants do not go bankrupt. Eventually the judgment debtor is going to want to buy a car, refi his house or seek a loan. He is not going to get it until the lien is paid and released. It may take a while...in some cases a few years...but it works.

 

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Re: Filing judgments against non-paying clients - Kevin Ahern/CT
6/13/2007 2:06:00 PM (5031 views)
Re: Filing judgments against non-paying clients - Danielle Nelson/WI
6/13/2007 5:30:50 PM (5105 views)
Re: Filing judgments against non-paying clients - Kevin Ahern/CT
6/14/2007 6:46:31 AM (5113 views)
Re: Filing judgments against non-paying clients - Kevin Ahern/CT
6/14/2007 6:57:36 AM (5202 views)
Re: Filing judgments against non-paying clients - ELENA MAUSER/DE
6/25/2007 11:21:32 AM (5010 views)
Re: Filing judgments against non-paying clients - Kevin Ahern/CT
6/25/2007 2:53:11 PM (5328 views)

[+] See Your Place From Space - David Bloys/TX (7 replies)
6/12/2007 1:31:47 PM (4454 views)

[+] non-paying "Client" - Tempie Elder/TX (10 replies)
6/12/2007 1:28:43 PM (3708 views)

Roberts Blog - Wanda Steudel/OH
6/12/2007 1:24:49 PM (2871 views)

[+] Title Search USA - Don Sedy - Danielle Nelson/WI (10 replies)
6/11/2007 5:52:25 PM (4934 views)


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