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NEW JERSEY JUDICIARY COLLECTING A MONEY JUDGMENT Superior Court of New Jersey Law Division Special Civil Part Collecting a Money Judgment page 1 If money is owed you because you have been awarded

How to fill out collecting a money judgment

How to fill out collecting a money judgment:

1. Obtain a copy of the judgment: The first step in the process is to obtain a copy of the money judgment. This can be done by contacting the court where the judgment was entered and requesting a certified copy.
2. Identify the debtor's assets: Once you have the judgment, you need to identify the debtor's assets. This includes their bank accounts, real estate, vehicles, and any other valuable property they may own. Gathering this information will help you determine the best method to collect the money owed.
3. Choose the appropriate collection method: There are various ways to collect a money judgment, including bank account garnishment, wage garnishment, property seizure, and lien placement. Depending on the debtor's assets and your local laws, you need to choose the most effective method for your situation.
4. File the necessary paperwork: To initiate the collection process, you will need to file the necessary paperwork with the court. This typically involves completing an application or motion specific to the chosen collection method. Make sure to provide all relevant information and documentation to support your claim.
5. Serve the debtor: After filing the paperwork, you will need to serve the debtor with a copy of the documents. This can usually be done by hiring a process server or using certified mail. It is important to adhere to legal requirements for proper service to ensure the process is valid.
6. Monitor the progress: Once the collection process is initiated, closely monitor its progress. Keep track of any payments received, changes in the debtor's financial situation, and any challenges or obstacles encountered along the way. This will help you assess the effectiveness of your chosen collection method.

Who needs collecting a money judgment?

1. Creditors: Creditors are individuals or businesses who are owed money from a debtor. They may need to collect a money judgment to recover the amount owed to them.
2. Small business owners: Small business owners who have provided goods or services on credit may find themselves needing to collect a money judgment if their customers fail to pay their debts.
3. Individuals owed money: If someone has lent money to another person or has been awarded a settlement in a civil case, they may need to collect a money judgment to enforce payment and recover the owed amount.

In summary, the process of filling out collecting a money judgment involves obtaining a copy of the judgment, identifying the debtor's assets, choosing the appropriate collection method, filing the necessary paperwork, serving the debtor, and monitoring the progress. This process is typically needed by creditors, small business owners, and individuals owed money.

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