How do you collect money you are awarded in personal injury case if the person owing is broke or in jail?
I was awarded a pretty large amount of money in the personal injury case. However, the persons that now need to pay that money to me are either in jail, or broke (possible bancrupcy declaration). I am wondering if there are good settlement lawyers, or financial companies that are willing to buy the judgement from me, and really how the whole process works. Please let me know in case you know anything, or you have had a similar situation happen to you.
Thanks
It is difficult to get money from someone who does not have any. If the person has assets then you can check into that.
You have to go back to the court and “execute” your judgement. You are telling the court that the judgement alone has not worked to remedy the problem. The court will allow you to order the person’s goods to be sold by the sheriff. Their personal house is protected up to $100,000 but everything else is yours to sell. They get to keep 1 bed, 1 tv, 1 sofa.
If you have the judgement, go to the county recorders office, make
sure its been filed, then you can begin to attach any real and/or
personal property the defendant may have. Once that is done, if
there is real estate, you can begin foreclosure/sale proceedings.
On the other hand… have you ever heard…”you can’t get blood out
of a turnip” ? If they dont have ANY assets you can attach, the
most you have now is a tax deduction for the next couple of years.
You are not going to find any ‘loan’ people to take this over…
not if you can’t prove there are assets to be taken.