You have a monetary claim, but how do you enforce it? There are many approaches you can take to collect a debt, but some of the most effective creditors’ remedies are utilized directly before (pre-judgment) and after going to court (post-judgment).
Pre-Judgment Creditors’ Remedies
These are preliminary processes that can be called upon against a debtor to preserve the assets before a court determines any debt recovery claims. For example, if there is concern that the debtor may flee the country or conceal assets, there are various potential pre-judgment remedies that can be invoked such as:
- Local injunctions – secures assets within the jurisdiction
- International Mareva injunctions or “freezing order” – freezes assets so debtor cannot dissipate their assets from beyond the jurisdiction
- Anti-suit injunctions – prevents debtor from commencing a proceeding in another jurisdiction
After going to court with the help of a debt recovery lawyer, many clients are shocked to find that only half the battle is over. Once you have secured a judgment, you are still challenged to recover the money—while potentially competing with other creditors’ claims. Enforcing a judgment to recover your debt requires careful, quick action and knowledge of the creditors’ remedies available to you.
Post-Judgment Creditors’ Remedies
After you have obtained a monetary judgment, you will first need to determine if the judgment can be enforced. After that crucial step, there are a variety of creditors’ remedies available for the enforcement and collection of that judgment, such as:
- Seizure and sale
- Charging order
- Order for sale
- Property liens
If the collection of your judgment involves a non-local jurisdiction such as another province in Canada or another country (an enforcement of a foreign judgment), there are additional remedies and approaches to be considered.
Debt Recovery Lawyers
The lawyers at Hobbs Giroday have years of experience assisting clients with enforcing judgments and securing assets to satisfy a judgment. Our foremost goal is to recover your money in a quick and cost-effective manner. After listening to your concerns and assessing the claim, we will implement an effective plan for collection that is decisive, forward-thinking, resourceful and, most importantly, results oriented.
If you need help enforcing a judgment and formulating a collection strategy that works, contact the debt recovery lawyers at Hobbs Giroday.