A judgment lien is created when a court grants a creditor an interest in the debtor's property, based upon a court judgment. A plaintiff who obtains a monetary judgment is termed a "judgment creditor." The defendant becomes a "judgment debtor."
Judgment liens may be created through a wide variety of circumstances. Laws regarding judgment liens vary by jurisdiction, so local laws should be consulted.
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If the married couple or joint owners of a property do not have a tenancy by the entireties title, any lien can attach to the person's interest in the property. Whether it's judgment or confessed judgment, the lien will attach to the homeowner's interest, making the lienor a co-owner of the property.
If you have trouble collecting the money that the judge has found you are entitled to, there are two possible causes of action available to you: a writ of garnishment and a writ of execution. The writ of garnishment of wages will order an employer to take out a certain amount from the defendant's paycheck.
Arkansas vs. Federal Exemptions Type of exemptionArkansas lawHomestead$800 to $2,500, or 80 acres with no regard to value, depending on two state homestead exemption optionsPersonal propertyClothing exempt without regard to value; $200 or $500 aggregate for all other personal propertyVehicle$1,2002 more rows ?
Debt collectors can only take money from your paycheck, bank account, or benefits?which is called garnishment?if they have already sued you and a court entered a judgment against you for the amount of money you owe. The law sets certain limits on how much debt collectors can garnish your wages and bank accounts.
So, federal law governs in Arkansas (with one exception, see below): If your disposable earnings are 30 times minimum wage or less, your wages can't be garnished.
The period during which a judgment is generally enforceable against the debtor is governed by Arkansas Code § 16-56-114 ? the statute of limitations applicable to judgments. It provides for a ten year limitation period after which, unless the period has been extended, further enforcement action is barred.
And some states also allow judgment liens on the debtor's personal property -- things like jewelry, art, antiques, and other valuables. In Arkansas, a judgment lien can be attached to real estate only (such as a house, condo, or land).
