Many times, winning a judgment is just part of obtaining a recovery in litigation. Entering a judgment against a person or company does not guarantee the satisfaction of the judgment by payment. If the judgment debtor cannot be found, there is a default on payment or a debtor simply refuses to pay, then post-judgment judicial proceedings may be necessary to recovery on the judgment. During such post-judgment proceedings, assets and income streams are located in order to attach assets and garnish income. Once we obtain the necessary information on your debtor’s finances, we employ various legal enforcement methods to seize/attach/garnish the assets, to satisfy any judgment.
Such methods may include restraining bank or brokerage accounts, garnishment of wages; obtaining money from debtor interests in companies; combating fraudulent transfers; use of subpoenas to trace transactions; corporate “veil piercing” to hold the individual behind the corporation responsible for the debt; pursuit of third parties (such as family members or business partners) who the debtor is using to conceal property to avoid creditors. Many times, the debts would not be collected without these enforcement procedures available under New York law to the creditors.