How to collect money from a company after default judgment

Asked about 1 year ago - Chicago, IL

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 (4)

  1. Roman J. Seckel

    Contributor Level 11

    9

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    Answered . There are several ways you can go about collecting on the judgment, including the issuance of a citation to company and/or officer(s) to talk about the company's assets, bank accounts, accounts receivables, etc. You may also be able to garnish payments they are to receive from their customers. Your best option is to speak with a reputable collection attorney in your area to discuss the specifics about your case and the best route to collect.

    Any answers or information provided is for general information purposes only and is not intended to be a legal... more
  2. Timothy Edward Kalamaros

    Contributor Level 15

    6

    Lawyers agree

    Answered . "post judgment remedies" are how you collect and they are technical and a layman will not fare well trying to exercise them without a lawyer. Indeed most lawyers that are not doing collections day after day, shy away from trying. The means are complicated, oftentimes intensely local for what really works and what does not, and there are pitfalls for people who improperly use these tools which might lead you into trouble. Do yourself a favor and hire a lawyer who does collections to get this done.

    No legal representation exists by virtue of this answer. Consult your attorney. Licensed to practice law in... more
  3. Judy A. Goldstein

    Contributor Level 20

    4

    Lawyers agree

    1

    Answered . Serve a Citation to Discover Assets on the corporate president or registered agent.

  4. Jeffrey Morris Jacobson

    Contributor Level 13

    2

    Lawyers agree

    Answered . First, contact the defendant and see if they are willing to pay. Then, do a citation to discover assets. You must serve it on the registered agent if it us a corp. Do not serve it on the president as the court will not accept that. If toy need help, feel free to contract an attorney.

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