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Winning Isn't Enough: Collecting a Judgment


Joe Cline

Winning a lawsuit is one thing; collecting on a judgment is another--and it's not as easy as you think. A legal judgment, by itself, does not guarantee that a creditor can collect the amounts awarded to him. It merely gives a creditor the right to take the necessary steps to make a collection. Many creditors who obtained a favorable judgment are able to collect less than the amount due them or sometimes nothing at all. To `win' the collecting battle, a creditor needs to use creative strategies to speed up the process and collect what he is owed.

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