Page 203 - Judgment Enforce Course

Assets: Anything of value, such as a car, a home, a watch, a
computer, and so on. In order to satisfy the judgment, it will be
necessary to locate assets of the debtor. Then the assets can be levied
upon.

Assignment Order: A court order that requires the debtor to assign to
you the right to receive certain payment normally due to the debtor.
The payments are then sent to you instead of the debtor.

Bank Levy: To seize or collect the debtor’s money held by a bank. In
some states it is referred to as a Bank Garnishment.

Bank Garnishment: Another term for “bank levy” in some states.

Bankruptcy: A federal law that allows individuals and business to
eliminate or restructure their debts so that they can get a fresh start.

Cause of Action: The reason for the lawsuit. It may be breach of
contract, theft, auto accident, failure to pay an employee or something
else.

Civil Court: The court where regular disputes are resolved. The cost
is higher, and the rules are more complex than small claims court. An
attorney will probably be needed.

Civil court sometimes has two divisions, Limited and Unlimited.
For example, in California Limited Civil means cases where the
amount in dispute is up to $25,000. Unlimited Civil is for disputes
over $25,000.

Claim of Exemption: A court document filed by the debtor which
says that he wants all or part of the property you took to be exempt.
Property can be exempt from levy and garnishment for various reasons.
For example, if the debtor needs his truck and tools for work, then these
may be exempt up to a certain dollar limit. Social security money and
retirement money are also exempt. You can’t take those. Jewelry,
artwork, and so on are exempt up to a certain dollar limit too.

203 | P a g e