bharatbhasha.com
Free Articles  >>  Legal >>  Page 59  >> 

How To Lien A Lawsuit







Occasionally, the only chance to recover your judgment is when your judgment debtor has a lawsuit against someone else. When your judgment debtor is suing someone else, it may be possible to put a lien on your debtor's lawsuit. If their lawsuit is successful, your lien will attach to your debtor's judgment, providing you another chance to get repaid. Note that when your debtor's debtor is broke, there's not as much reason to place a lien on your debtor's lawsuit.

My articles are my opinions and are not, legal advice. I'm a judgment broker, and not an attorney. If you want legal advice or a strategy to use, you should retain a lawyer.

A judgment creditor may lien their debtor's active lawsuit, before the final judgment. The creditor files a notice of lien (in California, Judicial Council Form EJ-185, also known as Form AT-180) with the court clerk. Notice of a judgment lien must be served (often by mail and/or by the court) on every party that filed an answer to the original complaint of your judgment debtor's lawsuit.

Each court has their own rules. Most often, besides your lien notice, a certified copy of your judgment is needed. If you are not the original prevailing party (the original judgment creditor), also provide a certified copy of the acknowledgment of assignment.

With lawsuit liens, until your judgment debtor's judgment becomes final, your lien doesn't really "attach". Occasionally, settlement discussions begin when you file the lawsuit lien. Usually, settlements don't work out, and a judgment owner will have to levy, to get a chance to be paid.

After your judgment debtor's lawsuit succeeds and is final, their judgment will be ready to be attached. Attachment starts by buying a writ of execution from a court, as that's the first step in almost every targeted judgment enforcement procedure. Next, file the judgment lien notice at the court. You will then have 2 chances to receive some payment. The first chance is actually just a chance, and that's when your lien might be a bargaining tool. For your judgment lien to be a bargaining chip, all these conditions need to be true:

1) Your judgment debtor's defendant owns sufficient available assets to settle or pay your debtor's judgment or lawsuit.

2) Your judgment debtor is the only plaintiff on their judgment or lawsuit against their debtor. If there is more than a single creditor, one or more of them may not agree that you've got a bargaining chip, as many people mistakenly think judgments are cash.

3) All parties agree with your negotiations and proposal, so that you get repaid, so that both lawsuits/judgments are repaid, at least to the extent possible. Remember, the most you can be paid is what's needed to satisfy your judgment.

Most often, judgment liens are just a lien, and recovery needs a levy by the Sheriff, just like all other Sheriff levies. Every Sheriff's office is different, and the expenses, and any deposits needed to levy a judgment debtor's property vary. The Sheriff could levy your debtor's judgment, publish notice of that sale, and then sell the debtor's rights to their judgment at an auction. You could credit bid on their judgment to buy it, only to the amount necessary to make your bid the highest bid.


About Author Mark Shapiro :

One stop judgment recovery: <a href="http://www.JudgmentBuy.com" target="_blank">http://www.JudgmentBuy.com</a> - Judgment Recovery. The easiest and fastest way to start recovering enforceable judgments. (Mark D. Shapiro 408-840-4610) Free, no obligation judgment evaluations.


Article Source: https://www.bharatbhasha.com
Article Url: https://www.bharatbhasha.com/legal.php/441894


Article Added on Wednesday, April 16, 2014
LD
Other Articles by Mark Shapiro

DBAs And Judgment Liens
Many judgment creditors who contact me claim they have a solid gold judgment worth a ton of cash up-front; because they sued a company and have already filed a judgment lien against that business, and while the company is doing poorly/out of business, the guy owning the business is wealthy, so all you have to do is go after the person to make them pay the judgment. The big show stopper is, if a business is a corporate entity, it usually protects all owners from paying any of the company's...

Prejudgment Writs Of Attachment
When real estate-owning defendants get sued, there's a possibility they will give away, transfer, or sell a property, to try to avoid paying an eminent final judgment. If the lawsuit is related to real estate ownership, one legal action to use would be the Lis Pendens, a filing used to cloud the title of a defendant's real estate. This article is my opinion and is not, legal advice. I am a judgment broker, and not a lawyer. When you need a strategy to use or legal advice, please retain a...

Alabama Judgment Liens
I am the nation's only judgment referral expert, and I am not a lawyer. My articles are my opinions, and is not legal advice. If you ever need legal advice or a strategy to use, you should contact a lawyer. When your judgment debtor has current equity in property, or may probably (someday) inherit one or more properties from their (e.g., relatives); one useful strategy to use in the plan for enforcing a judgment, is to create a judgment lien. A judgment lien attaches to the identity of the...

Property Lien Priority
Copyright (c) 2014 Mark Shapiro One of my many judgment articles. There are many types of liens on property, for example junior liens, senior liens, second trust deeds, first mortgages; and variations of these, and more names for these basic types. I'm a Judgment referral expert, not a lawyer, and this article is my opinion, please consult with an attorney if you require legal advice. Liens are the simplest method of securing a debt as the lien attaches itself to all properties the debtor...

Lawyer Liens And Judgments
If you retain a contingency basis attorney to attempt to win a lawsuit or recover the judgment, a clause on their retainer agreement will almost certainly include some type of lien on your judgment. This means that potentially enforced judgment money needs to be shared with your lawyer. With lawsuits and/or judgment collection, if you win or lose, you usually have to pay something. This article is my opinion and is not, legal advice. I am a judgment referral expert, and not an attorney. If...

How To Enforce Your Judgment
I'm not a lawyer, I am the nation's only judgment referral expert. This article is my opinion, and is not legal advice. If you ever want a strategy to use or legal advice, you should contact an attorney. What if you won your lawsuit and have been awarded a civil money judgment, how do you recover your judgment? This article has a brief outline, with a synopsis of a few common procedures to recover your judgment. The first thing to verify out is whether your judgment is enforceable or not....

Lien Priorities
Judgment debtors often have other judgments they owe to other judgment creditors. Usually, the most aggressive judgment owner, the first to recover their judgment, wins. Federal and State tax (abbreviated here as IRS) judgment garnishment procedures are stronger than typical civil judgment levies, so does a current or future IRS judgment against your debtor mean it's game over for a common judgment creditor? Not necessarily. This article is my opinion and is not, legal advice. I'm a judgment...

Judgment Collection And Foreclosures
I am a judgment referral expert, and not an attorney. My articles are my opinions, and not legal advice. When you ever need a strategy to use or legal advice, you should contact an attorney. Long ago, when our housing market was booming and your debtor owned property, recording a judgment lien was often an automatic method to get your judgment satisfied. The present economy has eliminated the majority of the automatic feature of recording a lien to pay a judgment, yet sometimes recording...

Removing Abstracts Of Judgment
A tool used in judgment recovery is recording UCC and/or real estate property liens. Although real estate prices are depressed, sometimes recording judgment liens works. When they work, or your judgment is satisfied in some other method; all previous judgment-related liens need to be removed. Who is responsible for removing all liens recorded when the judgment gets satisfied? My articles are my opinions and are not, legal advice. I am a judgment referral expert, and not a lawyer. If you need...

Fraud Statutes Of Limitation
What if your judgment debtor fraudulently transferred personal or real estate property just a few years before the debtor filed for bankruptcy protection? Even when you've your lien recorded one your debtor's property, fraudulently transferred real estate not already in the debtors name, does not attach. My articles are my opinions and are not, legal advice. I am a judgment referral expert, and not an attorney. When you ever need legal advice or a strategy to use, you should contact a...

Click here to see More Articles by Mark Shapiro
Publishers / Webmasters
Article ID: 441894
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:


258 Users Online!!
Related Articles:
Latest Articles:
 
Legal >> Top 50 Articles on Legal
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts
Aging


Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of bharatbhasha.com and/or its owners.


Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Business eMail Address Provided By AwareIndia







Company IDS