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In English and American law, a judgment debtor is a person against whom a judgment ordering him to pay a sum of money has been obtained and remains unsatisfied. Such a person may be examined as to their assets, and if the judgment debt is of the necessary amount he may be made bankrupt if he fails to comply with a bankruptcy notice (in US law, an involuntary petition) served on him by the ...
The judgment creditor may also seek to execute the money judgment against intangible property, such as bank accounts, accounts receivable, and other debts owed to the judgment debtor by third parties. The creditor must request that the clerk of the court who issued the fi fa follow this up by issuing a "summons in garnishment" directed against ...
Judgment creditors may also need to investigate whether judgment debtors are capable of paying. [35] Understanding whether a judgment debtor is capable of fulfilling the judgment order may affect the enforcement mechanism used to recover the money or property.
If a judgment debtor has income, it may be possible to get an order of garnishment to collect a judgment from that source of income. However, if the debtor's income is low or if the debtor is already subject to garnishment, in order to prevent the impoverishment of the debtor, the debtor's income may be exempt from additional garnishment.
The 18th-century debtors' prison at the Castellania in Valletta, now the offices of the Health Ministry in Malta. A debtors' prison is a prison for people who are unable to pay debt. Until the mid-19th century, debtors' prisons (usually similar in form to locked workhouses) were a common way to deal with unpaid debt in Western Europe. [1]
In foreclosure cases, a deficiency judgment is a court order allowing a lender to collect the remaining mortgage balance when the proceeds from the sale of the property aren’t enough to pay off ...
In this regard the judgement summons procedure may be seen as a more extreme—because of the threat of imprisonment—version of the procedure under the Civil Procedure Rules [2] procedure to obtain information from judgment debtors. A judgment summons may now be served by post in keeping with other Civil Procedure Rules actions but, if this ...
The lawsuit was filed after Dash’s stake in Rocafella Records was sold at auction for a paltry $1 million – with the winning bidder being the state, meaning a long line of creditors are going ...