What is a judgment?

A judgment is a type of lien that is attached to a debtor’s real or personal property without their consent. The judgment is intended to pressure a debtor to ultimately transfer money from a debtor to a creditor through a court’s enforcement.

How Do Creditors Obtain Judgments?

A judgment is granted to creditors who have previously sued a client in their county or state courts and then wins a judgment against the debt that is owed.

What are the Types of Judgment Liens that a Creditor Can Obtain?

There are a few ways that creditors can obtain their uncollected funds through a judgment:

Real Property: if a consumer has a lien as a result of a judgment on their house, condominium, vehicle, or similar kind of real property, during the sale of that real property, the creditor with the judgment will be entitled to a portion of the proceeds.

Garnish Your Wages: another way a creditor can obtain their uncollected funds is going directly through a debtor’s employer. A judgment will allow the creditor to collect funds directly from the debtor’s paycheck through the employer until the amount due and owed is satisfied.

Freeze Your Bank Account: instead of going through a debtor’s property or employer, a creditor can go directly to a debtor’s bank and freeze or restrain their account. In other words, a debtor would not have access to a certain percentage of funds in their account.