Page 1 of 2 1 2 LastLast
Results 1 to 10 of 15
  1. #1
    Join Date
    Nov 2006
    Posts
    9

    Default How To Collect Money If The Debtor Has No Money In The Bank

    I won the small claim case one month ago. The debtor owed me $1200, I know his bank branch, but his bank balance is negative. If I file writ of execution to take money from his bank account, will I get any money back? Will his bank account get frozen?

    I don't know where he works. I just know his current address, but it's in another county. How can I get my money back? Thanks

  2. #2
    Join Date
    Nov 2006
    Posts
    9

    Default Re: How to collect money if the debtor has no money in bank?

    I am also afraid if I don't file writ of execution now, what if he quickly closes this bank account? Then I won't know which new bank he will open.

  3. #3
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: How to collect money if the debtor has no money in bank?

    I don't know what state you are in, but generally about 99% of small claims cases go uncollected.

    File the execution as soon as possible but don't expect much.

    In fact, why don't you sell the judgment to a collection agency?

  4. #4
    Join Date
    Nov 2006
    Posts
    9

    Default Re: How to collect money if the debtor has no money in bank?

    Quote Quoting seniorjudge
    View Post
    I don't know what state you are in, but generally about 99% of small claims cases go uncollected.

    File the execution as soon as possible but don't expect much.

    In fact, why don't you sell the judgment to a collection agency?
    I am in California. I want to file writ of execution soon. But I found his bank balance is negative. so that means I can't get any money out of his bank?

    I am thinking of hiring a collection agency. My only concern is if the collection agency didn't collect any money back, did I still need to pay collection agency?

  5. #5
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: How to collect money if the debtor has no money in bank?

    If he has a negative bank balance, he has no money in his account for you to get.

    You will enter into a contract with the collection agency which will define how it will be compensated for its services.

  6. #6
    Join Date
    Nov 2006
    Posts
    9

    Default Re: How to collect money if the debtor has no money in bank?

    Quote Quoting aaron
    View Post
    If he has a negative bank balance, he has no money in his account for you to get.

    You will enter into a contract with the collection agency which will define how it will be compensated for its services.
    Some collection agency said "No recovery, No Fee", I hope there is no hidden cost. Besides, Can collection agency find out where he works? I only have the debtor's driver license copy, I don't have his SSN. Thanks

  7. #7
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: How to collect money if the debtor has no money in bank?

    Quote Quoting rose_bullet
    View Post
    Some collection agency said "No recovery, No Fee", I hope there is no hidden cost. Besides, Can collection agency find out where he works? I only have the debtor's driver license copy, I don't have his SSN. Thanks
    Make sure you understand everything in writing before you sign a contract with a collection agency.

    If you do not understand it, then do not sign it.

    Period.

    End of story.

    Even if.



    (By the way, hiring a collection agency will not make this person get any assets. If the person is broke, you will get nothing.)

  8. #8
    Join Date
    Nov 2006
    Posts
    9

    Default Re: How to collect money if the debtor has no money in bank?

    Quote Quoting seniorjudge
    View Post
    Make sure you understand everything in writing before you sign a contract with a collection agency.

    If you do not understand it, then do not sign it.

    Period.

    End of story.

    Even if.



    (By the way, hiring a collection agency will not make this person get any assets. If the person is broke, you will get nothing.)
    Thanks, I don't think this person is broke, he said he has part time job now. But he didn't tell me where he works. I think in a few months or a year maybe he will find a full time job. I want to know how to find where this person works.

  9. #9
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: How to collect money if the debtor has no money in bank?

    Quote Quoting rose_bullet
    View Post
    Thanks, I don't think this person is broke, he said he has part time job now. But he didn't tell me where he works. I think in a few months or a year maybe he will find a full time job. I want to know how to find where this person works.
    Hire a private detective.

  10. #10
    Join Date
    Nov 2006
    Posts
    9

    Default Re: How to collect money if the debtor has no money in bank?

    Quote Quoting seniorjudge
    View Post
    Hire a private detective.
    Thanks, I thought collection agency could find out where the person works. If collection agency only write letters and make phone calls, how can they still stay in business? I think collection agency must have a network, they can find out where he works and his bank.

    1. Sponsored Links
       

Page 1 of 2 1 2 LastLast

Similar Threads

  1. Debt Collectors: Can Lenders Come to Your Home to Collect Money
    By Country12 in forum Debts and Collections
    Replies: 3
    Last Post: 07-25-2010, 07:46 PM
  2. Replies: 3
    Last Post: 03-23-2010, 01:12 AM
  3. Can I Collect Back Money For A Job Not Done
    By kittywoman in forum Construction, Repair and Renovation
    Replies: 1
    Last Post: 04-13-2008, 07:15 AM
  4. Debt Collectors: How to Collect Money After Winning a Judgement
    By getwealthy in forum Debts and Collections
    Replies: 3
    Last Post: 09-11-2007, 07:59 PM
  5. Debt Collectors: Extortion Practices to Collect Money
    By hihorizon2 in forum Debts and Collections
    Replies: 3
    Last Post: 07-09-2007, 02:50 PM
 
 
Sponsored Links

Legal Help, Information and Resources