A Judgment Creditor is Legally Authorized by the Court to Seize and Sell Assets of the Debtor to Satisfy Payment of the Judgment
Judgments are not self-executing. Once a judgment is obtained against a debtor, the creditor must actively seek to enforce the judgment to collect any money due.
A judgment is payable immediately upon entry unless a definite time is specified by the court when judgment is rendered. Payment of the judgment (principal plus costs) is to be made directly to the party in whose favor it was rendered (judgment creditor), unless ordered by the court to pay directly to the court.
These post judgment remedies permit the judgment creditor to compel payment by levying on the assets of the debtor which include, real property judgment liens, personal property levy, bank levy, wage garnishments, till taps, sheriff keepers, and inventory and equipment seizure. Debtors may be ordered to court to submit to questioning about financial status and disclosure of assets. Non compliance could result in arrest and imprisonment.
Creditors arrange with the sheriff or marshal to seize the assets of the judgment debtor, which have been identified as his/hers and traced to their current location and sell the assets at a judicial sale, by way of public auction. The levying officer thereafter pays the proceeds derived from the sale, after deduction of expenses to the creditor, through his attorneys, in satisfaction of the judgment awarded in his favor, by the court in the amount of the judgment.
