Legal Question in Credit and Debt Law in New York

1. The Judgment Creditor may issue a restraining notice. A restraining notice may be served on the judgment debtor or on a third party holding assets of the judgment debtor (ie. Banks, Escrow Agents, etc.). Its effect is to restrain the transfer of assets by or to the judgment debtor.

2. The Judgment Creditor may issue a subpoena to require attendance for a deposition. The subpoena allows the Judgment Creditor to ask questions about your assets. Failure to appear at a deposition is punishable by contempt of court.

3. The Judgment Creditor may issue an income execution. An income execution garnishes (places a lien) and executes against your income through an enforcement officer (Sheriff or Marshal). Normally, an enforcement officer cannot obtain a levy against a judgment debtor for more than 10% of his or her wages.

4. The Judgment Creditor may execute against any real property in your possession.

Mike.