Perhaps someone caused you to lose money by using sharp practices in a business deal. Perhaps a former friend borrowed money from you and then did not pay you back. Or maybe your car was damaged in an accident. Maybe you were injured in that accident and you could not work for months. You had to have surgery and you have still not fully recovered. So you sued and you won. Yippee! You won. You have the judgment of the court, The Judgment of The Court, THE JUDGMENT OF THE COURT. Well, not so fast. A judgment isn’t a check. A judgment isn’t money. You can’t deposit a judgment in the bank. You can’t spend a judgment.
In Richard Parry’s blog posts to follow perhaps the most important thing that you will learn is that it is not enough to win a judgment in court against someone who owes you money. You must execute the judgment. You must convert the judgment into money.
In times gone by you would have had some pretty powerful tools to make your debtor pay. There used to be debtors’ prison. Just prove that that dead beat did not pay a legitimate debt and have the sheriff throw him into jail until he or his friends or family pays up. And then there was a time when that debtor would sell himself into bondage or slavery in order to pay the debt to you. Marcus Monius Needius even became a gladiator in order to pay his debts. Wow, just wave that judgment in the air, click your heals and say, “off to debtors’ prison for you” and see how fast you convert that court judgment into real money.
Even today your debtor may still be arrested and thrown into jail if he doesn’t show up in court or you might obtain a scary body attachment in the unhappy circumstances that the debtor avoids the processes that require the disclosure information about the debtor’s money and other assets. But a debtor in jail is not a bank deposit either, so let me recommend that you read on and see what lawyer Richard Parry will tell you about how to transform your judgment into real money.
Content prepared by Edmond McGill. © Edmond McGill, 2015
This message and the information presented here do not create or evidence an attorney-client relationship nor are they intended to convey legal advice or counsel. You should not act upon this information without seeking advice from a qualified lawyer licensed in your own state or country who actually represents you. In this regard, you may contact The McGill Law Office and then representation and advice may be given if, and only if, attorney Edmond McGill agrees to do so in a written contract signed by him.