Do you have a valid monetary judgement in the state of New York? If so, in order to get paid, you’re going to need to know how to collect on that judgement. According to Article 52 of the New York State Civil Practice Law and Rules, in the state of New York, enforcement of a judgement is permissible. As per this statute, the Empire State grants liberal rights and solutions to creditors, allowing them to collect on their judgements with minimal intervention from the courts.
After a judgement has been entered, if it is required, you must issue the requisite notice of entry. Upon doing so, you can then start the process of executing the judgement so that you can receive your payment. In New York State, executing on a judgement grants creditors or the attorneys that are representing them the ability to turn the document that the judgement was issued on into currency. There are several ways that you can achieve this, including via:
In order to decide which of the above-mentioned processes to use in order to collect on a judgement requires strategic decision making that is based on the information that you know about the debtor that you are seeking to collect on, as well as the debtor’s assets. This is important, as judgement enforcement certainly isn’t a standard, one-size-fits-all process.
Tips for Collecting a Judgement in New York State
The following are some tips that you can use to successfully get paid on a valid judgement in the State of New York.