So you have secured a Judgment. Perhaps the debtor did not put up a fight, and you obtained a default judgment. Or maybe you went through a hard fought trial and were awarded a final judgment. Unfortunately, your judgment is just a piece of paper unless and until the judgment damages are recovered.
And that is where attorney Joel Blumberg and CreditorCollections can help. First, we will address with you the likelihood of recovery. Does the debtor business remain operational? Has the debtor company filed for bankruptcy protection? Have assets been fraudulently transferred to others? Does the creditor know where debtor assets are located?
In Florida State and Federal Courts, perhaps the easiest and least expensive recovery route is a garnishment of the business debtor’s bank accounts or receivables owed to the debtor by third parties. Florida’s garnishment statute provides a clear framework for pursuing garnishments of money, and must be strictly followed. An experienced attorney is definitely recommended.
Other personal assets, such as personal property, cars, boats and real estate, can be seized and sold through the execution process. In Florida, the execution process is simple but can be more expensive to pursue. Joel Blumberg and CreditorCollections has helped clients seize and sell millions of dollars in real property, expensive vehicles and marine vessels, and even jewelry and artwork.
Proceedings Supplementary is another avenue to pursue assets that may have been fraudulently transferred to third parties, including family members associated with the debtor. Many times, a debtor will improperly transfer funds to another business operated by the principal of the debtor business. Supplementary Proceedings is a powerful tool to pursue debtor assets in the hands of third parties, but is only recommended where the amounts owed are sufficient to justify the costs involved.
Finally, the debtor is obligated through post judgment discovery to provide all of its financial information—bank accounts, tax returns, real estate holdings, ownership of vehicles, equipment and machinery, etc. Likewise, our office can Subpoena third parties such as financial institutions, employers and commercial landlords to procure unfiltered assets and liability information.
