When someone owes you money, the law provides several ways for you to collect on the debt. A court may issue you a writ of execution to allow you to collect certain property from your debtor in order to satisfy the debt. At Law Offices of Alan M. Cohen LLC, our experienced commercial collection attorneys have helped many clients execute writs over the years in order to collect on a debt. The following three facts may help you understand if a writ of execution will help you with your commercial debt collection.
How does a writ of execution work in Massachusetts?
When you win your case, the court will issue you a writ of execution. Once you have that writ of execution, you can enlist the help of the sheriff to collect certain property from your debtor and sell that property at auction.
What counts as nonexempt assets?
The sheriff can seize and sell certain property from your debtor using your writ of execution, including personal property and interest in real estate. The law does protect certain property through exemption from seizure, however. Exempt assets include basic necessities for the debtor and his or her family, tools needed for the debtor’s trade, the family’s homestead and an automobile. These items also have a value limit.
How long do you have to collect on the writ of execution?
You have up to 20 years from the date of issue to collect on your writ of execution. You may renew the writ before it expires for periods of five years at a time. If your writ is close to expiration, speak with one or our attorneys right away. We can help you collect on your debt or help you renew the writ.
If you need to know more, contact Law Offices of Alan M. Cohen LLC
If you still have questions about writs of execution or any other commercial debt collection tactic, our experienced collection attorneys are ready to help. We have been guiding business owners through the debt collection process since 1994. To schedule an appointment, please call 508-763-6604 or reach out to us online.