With over 75 years experience in New York debt collection, Frank, Frank, Goldstein & Nager, P.C. knows which strategies will get clients paid. As a frequent speaker on judgment enforcement, Jocelyn Nager, educates others on how to enforce judgments.
WHAT IS A JUDGMENT?
A judgment is a document or entry that legally states a party(s) is indebted to another party(s) for a specific dollar amount.
It is very rare that a judgment-debtor will voluntarily pay merely because a judgment has been entered against them. New York allows liberal enforcement of judgments thereby converting paper judgments into money. Once a judgment has been entered, there are a myriad of strategies to “force” the debtor’s hand to pay.
These include:
- bank account restraints,
- wage garnishments,
- levying on third party creditors,
- placing liens on real properties,
- fraudulent conveyance actions,
- successor in interest,
- etc.
The debtor’s assets will be liquidated or converted to satisfy the judgment so you will get paid.
OBTAINING A NEW YORK JUDGMENT:
You may win a judgment as a result of:
- debt collection litigation,
- confirmation of an arbitration award,
- a foreign judgment,
- a confession of judgment,
- other State or Federal litigation from another attorney,
- assignment and more.
A New York judgment is a New York judgment! The reason(s) for the recovery of the judgment or the manner in which it was obtained are important but do not dictate the collectability of the judgment.
ENFORCING FOREIGN JUDGMENTS IN NEW YORK:
In order to execute on a foreign judgment, the judgment must be domesticated or registered in New York. Once accomplished, you can execute on the judgment. To domesticate a foreign judgment please read more.
ENFORCING NEW YORK JUDGMENTS:
The first step in enforcing a New York judgment, whether obtained by this firm or another attorney, is to understand how the judgment-debtor is getting paid. By doing so, we are able to interrupt the flow of money to the judgment-debtor and redirect those monies to satisfy your judgment.
Frank, Frank, Goldstein & Nager, P.C. performs an investigative search and review of client file. We search for assets that might have a connection to the judgment-debtor. These can include having an understanding of: the judgment-debtor’s business, customer base, role in the New York business landscape, parties they may be doing business with, family situation, etc.
We can freeze monies in:
- bank accounts,
- brokerage accounts,
- merchant vendor accounts,
- security deposits,
- monies owed to the judgment-debtor by customers,
- loan payments,
- payments due from a financer,
- payment of an indebtedness of a judgment-debtor,
- other sources,
- and more.
We can garnish wages.
We can lien and sell real or personal property.
We can sell shares of stock.
To accomplish these goals we employ one or more of New York’s liberal judgment enforcement techniques.