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Who is a judgment debtor?
Who owes a judgment debt?
What happens if a judgment debt is owed to a creditor?
What happens if a creditor refuses to pay a judgment?
A judgment debtor is a person or entity who owes an amount of money due to a judgment that has not been paid or executed. The debt is owed to a judgment creditor, who may obtain discovery against the judgment debtor to aid in execution of the judgment.
Wex. judgment debt. When a person against whom a monetary judgment has been entered, the person owes a judgment debt. This party will be a judgment debtor. The party who the judgment debtor owes money to is the judgment creditor. The judgment creditor has the right to collect the judgment debt.
Definition of "judgment debtor". An individual or organization who owes money as a result of losing a lawsuit. How to use "judgment debtor" in a sentence. After losing the lawsuit, the company became a judgment debtor. The individual could not pay his debts and was declared a judgment debtor.
- Obligations of The Judgment Debtor
- Case Studies: Dealing with Judgment Debtors
- Getting Help as A Judgment Debtor
In many cases the judgment debtor will not have sufficient funds to make full repayment, and s/he may have to have his wages garnished or have property liens attached. These actions are taken in order to make sure that the judgment debtor can eventually pay the judgment in full. When the debtor’s wages are garnished, for example, money is taken fro...
Case Study 1: John’s Child Support Dilemma John is a divorced father who has been ordered by the court to pay child support for his two children. However, due to financial difficulties and a sudden job loss, John finds himself unable to make the full child support payments. As a judgment debtor, he faces the challenge of meeting his financial oblig...
If you have a judgment against you, you should consult with a lawyeras soon as possible to find out what your obligations are and whether you have any options under the law for dealing with the judgment.
JUDGMENT DEBTOR definition: a person or company that is ordered by a court of law to pay money to another person or company. Learn more.
Sep 15, 2021 · Judgment enforcement is an art that involves gathering information, identifying assets, conducting discovery, and understanding the relevant state and federal laws relating to debt collection.
Learn the definition and significance of a judgment debtor in business operations. Discover how understanding judgment debtors allows you to take legal action, recover debts, and assess financial risks. Protect your business's financial stability now.
