|
One of the best ways to try to recover a money judgment is having your Marshall or Sheriff levy/garnish your judgment debtor's bank account. This article is based on California, however the concepts discussed here will likely apply in many states. This article is my opinion and is not, legal advice. I am the judgment broker, and not a lawyer. When you ever need legal advice or a strategy to use, please retain an attorney. A successful bank levy depends on three things: 1) Your judgment debtor keeps money in a bank. When there is nothing or very little money in the debtor's account, spending for a levy is most often money down the drain. 2) Cooperation and performance from your Sheriff, court, and in some places, a registered process server. These all have forms to fill out, and require you to pay fees. 3) The element of surprise. If your debtor learns of your upcoming garnishment, they is going to probably move their money. One must observe their state laws, to try to avoid tipping off the judgment debtor. In California, when a judgment owner wishes their judgment debtor's bank account to get levied, they usually must start by buying a writ, and this is written permission from their court to have their Sheriff try to levy their debtor's assets within a designated county. In California, before you buy a writ of execution from your court, one usually needs to supply their completed MC-12 (Memorandum Of Costs) Judicial Council form. When you do not want to include accrued interest on your writ of execution, you do not need the MC-12 Judicial Council form. The MC-12 form is where the creditor claims any interest owed, and whatever costs that should be included in the amount of the judgment. To avoid tipping off your debtor to an upcoming bank levy, one should not put costs on their MC-12 form. This is as when costs are included, the judgment debtor needs to get served a copy of the MC-12 form using mail, giving them a chance to move or hide the money. The majority of bank garnishments don't fully satisfy judgments. After your bank levy completes, the judgment owner is free to use more MC-12 forms and note what might have been collected to list a credit, interest accrued, and any costs (within 2 years of the costs getting incurred); as the surprise factor will no longer be important. In California, one can claim up to $99.99 on your MC-12 form be able to get a writ of execution without any waiting period. If your costs are above $100, a creditor needs to wait fifteen after their MC-12 is served on your judgment debtor, before the court issues a writ of execution, as per CCP 685.070. When the costs are above $100, if your POS (proof of service) using first-class mail on the back/second page of your MC-12 has been completed and has been signed by a third-party, which means your judgment debtor has been notified. After that, your debtor has an opportunity to file a Motion to Tax Costs (contest your expenses); as long as the debtor has kept their mailing address up to date with the court. The majority of debtors don't keep addresses updated with the court. With costs less than $100, if your proof of service envelope first-class mailed to your debtor's last-known address is returned, having a post-office "unable to forward" stamp because there's no order to forward with the post office; this is most likely not your concern. However, keep the bounce-stamped envelope just in case anybody ever asks you about this later. If the claimed expenses are large, especially when compared with whatever is owed on your judgment; think about finding the judgment debtor's current address and have the proof of service accomplished for sure, that in some cases, may mean even using personal service. Also, waiting six months after personally serving a court-related document on the debtor may fix up a weak proof of service issue on a default judgment. If there are no costs listed on your MC-12 form, the MC-12 does not need to be served onto your debtor. On the back/second side of the MC-12 Judicial Council form, you could type "(No proof of service required - Interest only, no costs - As per Code of Civil Procedure 685.070)" in the "My Address" area near the top of the form, and date and sign the bottom of the page. Some court clerks do not completely know the law on MC-12s having only interest Judicial Council form circumstances, and may insist on a proof of service getting completed; even when there's not any new costs claimed. This kind of problem is often fixed by requesting a supervisor, and explaining the circumstance, to a court clerk supervisor. Mark D. Shapiro of: http://www.JudgmentBuy.com - Your fastest and easiest free method of finding the right professional to buy or recover a judgment.
Related Articles -
no costs on a moc, MC-12 with no costs, interest only MOC, interest only MC-12,
| 
