Legal Question in Credit and Debt Law in Michigan
Consent Judgments
Our company has entered into a consent judgment in an attempt to settle a landlord/tenant matter. If the other party is not able to meet their payment, the consent judgment will be entered with the local circuit court. The other party, as far as we know, has not cash or other assets. If the judgment is entered, how would we ce able to collect what is owed, if we can at all?
1 Answer from Attorneys
Re: Consent Judgments
A judgment is good for ten years.
The most popular means of collecting on a judgment are go garnishee someones paycheck and/or to garnishee their tax refunds, particularly from the State of Michigan.
You are entitled to a "creditors examination" to require the debtor to come to court and testify under oath as to their income or assets and discover if there is anything that you can attach.
Good luck,
Tom Weiss