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How to collect money from a company after default judgment

Chicago, IL |
Filed under: Bankruptcy

In a corp - corp agreement, the other company did not pay for services and we went to the court and got the default judgment. Now, how do we collect the money from them ?.. we do not have details about their bank accounts and assets. Also what if they are keeping low balances in their accounts.

Thanks for your advice and appreciate your help!

Attorney Answers 3

Posted

Serve a Citation to Discover Assets on the corporate president or registered agent. Locate and freeze the assets. Then seek a turnover order.

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Asker

Posted

Thank you so much for the advice! Also, when we serve the citation on the president of the Company, can he ignore it?.. or does he have to respond?.. Earlier when we served the summons to the company, they ignored and never responded.

Asker

Posted

Thank you so much for the advice! Also, when we serve the citation on the president of the Company, can he ignore it?.. or does he have to respond?.. Earlier when we served the summons to the company, they ignored and never responded.

Posted

I agree with Attorney Goldstein, and you can likely find all the information you need to accomplish this without an attorney; however, depending on the amount of the judgment, you may want to hire an attorney to handle execution for you or at least consult so that you follow all of the necessarily procedures.

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Posted

I agree with both of the above answers and concur on the need to follow the correct procedure when using the citation to discover assets. The state statute regarding service of citations to discover assets was amended in July of 2012 to require personal service on judgment debtors (as opposed to service by certified mail). If you are not clear on the procedure, you may want to consult an attorney.

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