Litigation is a reality in the life of a business owner. Most business owners will, at some point, have to engage in litigation in order to protect their legal rights. Litigation can result in a monetary judgment that is enforceable by court order. A judgment is the first step to collecting what is owed. Unfortunately, many defendants are either unable or unwilling to pay. Luckily, there are many ways in which a business lawyer can enforce money judgments through the legal system. Here are some of the legal tools at a creditor’s disposal that can help collect money owed pursuant to a lawful court order:
Writs of Execution
A writ of execution is a court order to the local sheriff that directs his (or her) deputies to seize a debtor’s assets in order to satisfy an existing money judgment. For example: if your company has a judgment against another company, you can ask the court to issue a writ of execution against the debtor company’s business accounts in the amount of your judgment.