This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Indiana Assignment of Judgment to Attorney for Collection
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State:
Multi-State
Control #:
US-02701BG
Format:
Word;
Rich Text
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How to fill out Assignment Of Judgment To Attorney For Collection?
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FAQ
By definition, when there is an assignment of a judgment, the assignee becomes the party in interest and the assignor has no further interest in the action or the enforcement of the judgment.
In Indiana, the statute of limitations by judgment is ten years, but it can be renewed, further extending the collection period. This means once a creditor makes a charge against the debtor, the judgment is collectible for up to ten years.
If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you. This allows them to take possession of your real estate holdings, personal property, or business.
Effective July 1, 2021, the maximum amount that can be sought in Small Claims Court is $10,000.00. Court dates are given 6 weeks in advance, and the notice to the defendant is sent Certified Mail, unless otherwise specified when filing.
The judgment lien definition is that if you owe a creditor money and don't pay, they can sue you for the balance. If the court rules in their favor, the creditor can file a judgment lien against you, which means that the court has permitted them to forcefully collect that debt from you.
After the judgment is obtained, the creditor can enforce the lien right for the first ten years by attempting to foreclose on any real property or personal property the judgment debtor owns.
Indiana Wage Garnishments This process occurs when your employer is ordered to take a portion of your income and submit it to the court which will ultimately be then paid over to the creditor. This most likely will occur in a subsequent hearing called a proceeding supplemental.
The Court entered a judgment against you. When a judgment does not get paid, the Plaintiff is allowed to ask the Court to require the Defendant to come to a hearing so the Plaintiff can find out if the Defendant has any income or property which the Court can require the Defendant to use to pay towards the judgment.