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How to collect money from a company after default judgment

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. Best answer

    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 opinion, legal advice or a complete discussion of the legal issues. This is not intended to create a attorney-client relationship. Each individual's situation is different and you should seek independent legal advice from an attorney familiar with the laws of your state for specific information.

  2. "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 Indiana and Illinois. Circular 230 Disclosure: any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any matters addressed herein.

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

  4. 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.