The entire goal of a commercial collection action is to obtain payment from a person or business that owes you money. At the Law Offices of Alan M. Cohen LLC, our commercial collections litigation attorneys understand the importance of not just obtaining a judgement against your debtor, but also the enforcement of that judgement through debt recovery efforts seeking to collect on the debt. Pre-judgement attachments allow you to freeze your debtor’s assets prior to the judgement and earmark those assets for payment upon judgement. In other words, when successful, they create a pot from which you can get paid.
The power of planning ahead
One of the benefits of using pre-judgement attachments is that you can sometimes do so without giving notice to the debtor. That way, the debtor does not have time to hide or sell their assets before the court has attached their assets. In some situations, the court will require notice. At the Law Offices of Alan M. Cohen LLC, we determine the best method for attempting to prevent your debtor’s assets from dissipating. We have many tools at our disposal for pre-judgement attachments, but one of the most effective is a bank attachment.
How do bank attachments work?
A bank attachment can be requested as part of the complaint process in order to secure non-exempt money in a debtor’s bank account for payment. If you request an attachment without notice to the debtor, that is called an ex parte bank attachment. The court may allow an ex parte bank attachment if you can show, in part, that the debtor is likely to try to hide or remove the asset if they receive notice.
The collections attorneys at the Law Offices of Alan M. Cohen LLC collectively have nearly 50 years of experience with debt collection and we know that the likelihood of a debtor moving money from their bank account after being given notice of a bank attachment motion is high. When allowed, an ex parte bank attachment can ensure a liquid source of payment if you win your judgement case.
Find out if pre-judgement attachments are an option for your case
Every case is unique and different tools work best in different situations. Pre-judgement attachments are not available in every case, but they are a powerful tool when they are available. To find out if pre-judgement attachments will work in your situations, discuss your case with an experienced debt collection attorney at the Law Offices of Alan M. Cohen LLC. Contact our office by calling 508-763-6604 or emailing us.