In recovery of a debt, a judgment is not the final step in the small business collections process. The prevailing party in a lawsuit becomes a judgment creditor, and the other side the judgment debtor. A judgment creditor, even when armed with a judgment, must proactively take the steps necessary to collect. The courts and law enforcement officers play an important role, but the initiative and effort must come from the creditor.
If you have prevailed in a lawsuit and have a judgment, you may have asked yourself, “Now what?” The Law Office of Carter H. Thompson assists with collections issues, both on behalf of creditors and debtors. Such assistance can include:
- Abstracts of judgment
- Writ of execution
- Writ of garnishment
- Post-judgment discovery
- Settlement agreements
- Turnover statutes
- Domesticating a foreign judgment
Texas law is considered to favor debtors, and many assets – including homesteads, current wages, and certain personal property – are exempt from collection from individuals. Collections from businesses are not so difficult, but remains a procedurally-nuanced process. The Law Office of Carter H. Thompson provides collections services to individuals and businesses.