Turning to the courts to get your money back can be a nerve-wracking, yet critical step to take. This becomes highly relevant in cases where you’ve tried everything under the sun and still wasn’t able to get your money back.
Enter filing a small claims court case from stage left.
When you’re trying to figure out how to sue someone for money, the process can be heavily-dependent on your state of residence. Keep on reading to learn all about the law basics, as well as figuring out the different ways to collect.
How to Sue Someone for Money 101: Getting a Personal Injury Lawyer
Alright, so we know that it might be tempting to think that it’s going to be easier to represent yourself, especially if the total amount of money you’re trying to get back is on the low-end of lawyer retainer fees.
However, it’s critical to understand that winning your case is only half the battle. The tricky part starts when you try to collect on the judgment.
Therefore, it’s a much better idea to approach your case with a personal injury in mind.
Collecting on Judgement: What Are Your Options?
We’ll assume that you’ve won your case with the help of your personal injury lawyer. Now it’s time to receive a money judgment for the amount you’re owed.
You might have an easy case where the defendant decides to hand over the money they owe you. On the other hand, if you had to go to court to get the money that you rightfully owe, then it’s more likely that the defendant will refuse to pay voluntarily.
Thankfully, your money judgment can implement a plethora of collection techniques, such as property liens, wage garnishments, and even bank account levies different types of properties.
Personal Income and Assets
The crowning jewel and one of the first categories of personal property is the defendant’s personal income. A straightforward way to recover your money is by taking a chunk of the defendant’s wages every month.
In addition, the rates of garnishment will depend on your state of residence. As it were, you’ll find that the rate can get up to 25%. Yet, keep in mind that the courts won’t allow you to garnish specific money pools like welfare, social security, pension, or a disability check.
When it comes to assets, all is fair for the taking. From real estate to cars, stocks, and bonds, you can get a levy on a property through a property lien.
Business Income and Assets
If your defendant is considered a business entity by law, then you can recover your money through their business bank account or through the sale of their assets.
For example, the defendant can sell valuable property or machinery to pay you back.
Ready to Get Your Money Back?
There’s no reason to go through the process of getting your money back on your own. By picking the right attorney, you can ensure that your foray into fighting out how to sue someone for money is as smooth as possible.
Now that you’re familiar with the process and what the different avenues of money collection can be, you can start your litigation with a solid foundation of knowledge.
Furthermore, you’ll want to check out our law and attorney section for all the tips and tricks you may need for your case.