How to Collect on a Judgment in Missouri
Collecting on a judgment in Missouri can be a challenging process, but it is essential for creditors to recover the money they are owed. Whether you have a judgment against an individual or a business, understanding the steps involved can help streamline the collection process. In this article, we will discuss the key steps to collect on a judgment in Missouri.
1. Verify the Judgment
Before attempting to collect on a judgment, it is crucial to ensure that the judgment is valid and enforceable. Check that the judgment was properly entered and that all necessary procedures were followed during the court hearing. If there are any discrepancies or errors, you may need to file a motion to correct the judgment.
2. Locate the Debtor
The first step in collecting on a judgment is to locate the debtor. This can be done through various means, such as searching public records, using a skip-tracing service, or hiring a professional locator. Once you have the debtor’s contact information, you can proceed with the collection process.
3. Communicate with the Debtor
Before taking any legal action, it is advisable to communicate with the debtor and attempt to reach a settlement. This may involve negotiating a payment plan or offering a reduced amount to settle the debt. Be sure to document all communication and keep a record of any agreements reached.
4. Garnish Wages or Bank Accounts
If the debtor fails to comply with the agreed-upon payment plan, you can file a wage garnishment or bank levy. A wage garnishment allows you to seize a portion of the debtor’s wages to satisfy the judgment. A bank levy allows you to freeze and seize funds in the debtor’s bank accounts. To initiate either of these actions, you must file a motion with the court and provide the court with the debtor’s bank account or employer information.
5. File a Motion for Contempt
If the debtor continues to ignore the judgment, you can file a motion for contempt. This motion will require the court to enforce the judgment and impose penalties on the debtor, such as fines or imprisonment. It is essential to work with an attorney to navigate the legal process and ensure that all necessary paperwork is filed correctly.
6. Consider Selling the Judgment
If collecting on the judgment remains challenging, you may want to consider selling the judgment to a third-party collection agency or a judgment buyer. These entities specialize in purchasing judgments at a discounted rate and then attempting to collect the full amount. While this may not result in an immediate recovery, it can provide you with a way to recoup some of the money you are owed.
7. Keep Detailed Records
Throughout the collection process, it is essential to maintain detailed records of all communication, legal actions, and attempts to collect on the judgment. These records can be invaluable if you need to prove that you have taken reasonable steps to collect the debt and may be necessary if you decide to pursue legal action.
In conclusion, collecting on a judgment in Missouri requires a strategic approach and may involve several steps. By verifying the judgment, locating the debtor, communicating effectively, and exploring legal options such as wage garnishment and motions for contempt, creditors can increase their chances of recovering the money they are owed. Remember to keep detailed records and consider alternative methods, such as selling the judgment, if traditional collection efforts prove unsuccessful.
