Collecting Debt: What Happens If A Debtor With A Judgment Is Hard To Locate? | Art Matthews
Автор: Matthews Law Firm, Inc. - Business Lawyers
Загружено: 2021-03-19
Просмотров: 35
Описание:
https://matthewsfirm.net/
Matthews Law Firm, Inc.
2522 Chambers Road
Suite 100
Tustin, CA 92780
United States
(714) 647-7110
We have experienced and thorough asset investigators that are very good at locating hard-to-find debtors. This is something that should be done prior to receiving a judgment. In today’s digital world, most debtors leave tracks of where they’re living, so a creditor shouldn’t give up simply because they haven’t been able to locate a debtor for a period of time. With diligence and the right tools, we’ve been able to collect from many hard-to-find debtors.
If a judgment has already been obtained but the debtor is not paying and cannot be located using traditional methods, we recommend the use of an asset investigator to try and locate the debtor and his/her/its debtor’s assets. In these types of cases, we record an abstract of judgment and a notice of judgment lien. An abstract of judgment liens any real property that the debtor owns, and a notice of judgment liens personal property owned by the debtor. Even if the debtor doesn’t have real property or substantial personal property when the liens were recorded, the liens also apply to property acquired in the future by the debtor. Once these liens are in effect, a debtor will generally be required to satisfy them when they attempt to sell or refinance their property.
If the balance owed warrants it, it’s usually a good idea to file a lawsuit, secure a judgment and record liens. Judgments can be valid for many decades, and at some point, the debtor should be located and the creditor paid what they are owed.
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