Collections

When a debtor is not only recalcitrant, but attempting to conceal funds and assets, your attorney can use an information subpoena to gain information about the debtor’s income and income sources, their personal property, and if they own real estate or vehicles. Should the debtor refuse to answer, a request to the court can be made to open post judgment discovery. Here, the debtor or a third party may be forced to testify about his/her assets and income.

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Any judgment obtained in New Jersey Superior Court automatically creates a judgment lien on a debtor’s property that holds for 20 years, even if the ownership of the property changes. This means that the debtor cannot sell or refinance the property without first satisfying the judgment lien and also applies to any jointly held properties. Judgments that were obtained in Special Civil Part (small claims court) must have the judgment recorded in the Office of the Superior Court Clerk in Trenton to create a lien on the debtor’s real estate. It is essential to have an attorney do this quickly so that your judgment lien is recorded before any other competing recorded judgments and you can recover payment first.

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The first step in judgment enforcement in New Jersey is obtaining a writ of execution which allows for the seizure of property to satisfy the judgment. This can include:

• Personal property such as cars and equipment
• Business interest such as stocks
• Rental income that the debtor may receive
• Money in bank accounts

Some assets are excluded by law from confiscation to pay a judgment. These are the following:

• Disability payments
• Workers’ Compensation and retirement benefits
• Insurance policies
• $1000 of personal property

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