Legal Question in Credit and Debt Law in New York
Collections law
Can a collections lawyer who has a judgement against you for 10 years and let a $4000 judgement build up to $12,000 all of a sudden seize your bank account, your home, your truck and all at the same time? or can they legally only go after one?
Asked on 8/26/08, 9:45 am
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: Collections law
A judgment creditor may seek repayment of the judgment from several sources. However, the judgment creditor may only be paid once. So, if there is $6,000 in the bank account and $10,000 in the truck, the judgment creditor may seize both but only take $6,000 from the truck, returning $4,000 to the judgment debtor.
Mike.
Answered on 8/26/08, 10:02 am
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