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Part III: Collection of Funds

This is the third in a series on judgments (Part I on Motions for Summary Judgment in our January newsletter and Part II on recording a Judgment.)

Once you have recorded your judgment, and if the fact of that recording has not forced a settlement of the amounts owed, you should request an order that the judgment debtor be required to sit for a debtor’s exam. A debtor’s exam is essentially a deposition, where the debtor is required to answer questions about his or her assets under oath. During the exam, the debtor will be required to provide details about bank accounts, safe deposit boxes, outstanding debts owed to the debtor, claims that the debtor may have against others, the location, identity and value of real estate, businesses owned, stocks, bonds, and any other property. Details of employment must also be provided if they are not already known. Armed with this information, it will be possible to take further steps to collect money owed you in the judgment.

Michael L. Kitchen
mlkitchen@mclawfirm.com
480-994-2000