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12 Ways to Collect against a Person Who Has Assets

How do you collect against a person who has assets?

So, you’ve been awarded a judgment and you are aware that the judgment debtor has assets. Where do you go from there? Simply knowing about the assets does not mean your judgment will be satisfied. The burden is on YOU to find the assets and execute on them. Typically, only 25% of creditors recover on their judgment. Don’t be among the 75% of creditors who don’t get paid.

Warner & Scheuerman is here to help you. We’ve collected tens of millions of dollars because we know which tactics are effective and produce results. With an investigative team on staff, Warner & Scheuerman has the expertise to collect on your judgments. Armed with the leads you may have, or none at all, we develop a multi-pronged strategy for recovery based on our investigation. At Warner & Scheuerman we use a combination of thorough investigative research, digital tools, and tech, guided by decades of experience.

Strategies That Our New York Collection Lawyers Employ to Help You Get Paid:

  • Bank Accounts: We can locate, restrain, and execute on bank accounts in the name of the judgment debtor. If accounts are jointly owned with other individuals who are not debtors, we can restrain the accounts and initiate a turnover proceeding.
  • Brokerage Accounts/Stock Ownership: We can identify, restrain, and execute on brokerage accounts and pursue stock ownership.
  • Wage Garnishments: Is the debtor currently employed? We can garnish his/her wages directly from the employer utilizing the service of the NYC Marshal’s office.
  • Third-Party Levies: Does the debtor own or have an interest in a business from which he is not drawing a salary? We can have a NYC Marshal place a levy on the business, stopping any form of compensation (draw, bonus, interest etc.) from going to your debtor.
  • Liens on Real Properties: Does the judgment debtor own real property? The first step to recovery is placing a judgment lien on the property. It must be done in the county where the property is located, which may not be the county in which you obtained the judgment. 
  • Execution Upon Operating Businesses: Is your judgment debtor an active business? If so, we utilize the NY Marshal or Sheriff’s office to seize the business property (the owner tends to return your calls under those circumstances).
  • Selling Real Property: If your judgment debtor owns real property, we can obtain the sale of the property and get you the excess above the exempt amount (it varies from county to county).  We work closely with County Sheriffs’ offices to ensure that seizures and sales of property are done properly.
  • Fraudulent Conveyance Lawsuits: Has your judgment debtor tried to transfer assets to loved ones or others to evade recovery? We are knowledgeable in the tactics they use to do it and can file appropriate lawsuits to reverse such fraudulent conveyance and seize the transferred assets.
  • Personal Property: Does your judgment debtor own cars, boats, or planes? We can locate these assets and determine if pursuing them is an effective means to recovery.
  • Domestication of Judgments: Do you have a federal judgment that you want to collect on? To utilize the state-based collection procedures and personnel, you need to “domesticate” the judgment with a New York State county clerk (best done where the debtor owns property).
  • Depositions: We firmly believe that any depositions must begin with business partners or significant others…not the judgment debtor!
  • Monies Owed to the Debtor: If your judgment debtor is owed money, we can seize what’s owed to it. Your judgment debtor may have months of payments owed to it from American Express, for example, if it accepts American Express for payment.

With our proven track record in investigative research, asset recovery, and litigation, Warner & Scheuerman can help you each step of the way. Feel free to contact our office today.