Table of Contents
What is a prejudgment garnishment?
Prejudgment garnishment (also called “trustee process” in some states) is a form of attachment where the property is held by a third party who in turn owes money to the debtor/defendant.
What is a non earnings garnishment?
A non-earnings garnishment is when the court orders a person or entity (garnishee), who is not an employer of the debtor but who owes money to the debtor, to pay a judgment creditor for an amount owed by the debtor to the creditor.
What is a post Judgement collection?
A garnishment is a post-judgment collection technique against a judgment debtor, whereby the court orders a third party (knows as a “garnishee”) to withhold funds, which are otherwise owed to the judgment debtor, and pay them into the court or directly to the judgment creditor.
What is the difference between attachment and replevin?
Replevin, also known as “claim and delivery” or “revendication,” is another type of legal recovery process. Unlike attachment, which returns property or pays comparable financial damages to a winning defendant, the process of replevin applies only to physical property taken from a defendant by the plaintiff.
How can I stop a wage garnishment after a Judgement?
In some situations, you can prevent a wage garnishment without bankruptcy.
- Respond to the Creditor’s Demand Letter.
- Seek State-Specific Remedies.
- Get Debt Counseling.
- Object to the Garnishment.
- Attend the Objection Hearing (and Negotiate if Necessary)
- Challenge the Underlying Judgment.
- Continue Negotiating.
What’s the difference between pre judgment and post judgment interest?
For information on claiming and calculating pre-judgment interest (interest before judgment), see the “Guide to Making a Claim”. After judgment, interest is called post-judgment interest. If your claim is successful, post-judgment interest accrues automatically on the amount owing to you under the judgment.
How does a garnishment work in a judgment?
A Garnishment is a way of collecting a debt where the judgment creditor takes (garnishes) money or property that belongs to the judgment debtor but is in the possession or control of another person.
When to apply for a writ of garnishment?
Or, the judgment creditor can hold on to the judgment, allowing it to collect interest (if the judgment allows). Once the judgment creditor knows the debtor has available funds or eligible property, and apply for either writ. Either writ must be issued within ten years of the date the judgment was given.
How is the interest rate calculated after a judgment?
The post-judgment interest rate was 5%. Post-judgment interest would be calculated as follows: post-judgment interest owing from the judgment date to the date when the payment was made (day 240)- $5,082.19 x 5% ÷ 365 x 240 days = $167.09