Legal Question in Credit and Debt Law in Missouri
Repossesion
My company won a judgment against an individual 3 years ago. Since the judgment, this individual acquired a large sum of money and spent it on vehicles and other items. As my company is a creditor, are there any legal means to acquire this personal property through repossesion?
2 Answers from Attorneys
Re: Repossesion
If the property is held and titled in the name of the person who owes the judgment, you can "execute" on the judgment and the sheriff can seize the vehicles and sell them to pay off the judgment. See a lawyer for help with this; this is not something you should do yourself.
Re: Repossesion
If your judgement is valid, you may be able to execute on the judgement debtor's personal property. However, there are limits to the extent of personal property you can attach, and of course you may have to offer them for sale at a public sale. If your company needs assistance, you may contact me. Good Luck
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