After a Judgment
A judgment is more than a piece of paper. It contains the power to force payment of the amounts owed. Many judgment debtors are unable or unwilling to pay the debt that the court ordered them to pay.
The judgment may be the first step in a debt collection process.
Registration, Location, Examination
The debt should be quickly registered, the debtor and the debtor’s assets located and parties examined under oath to precisely determine the debtor’s ability to pay. Once assets are determined, enforcement proceedings are commenced.
Enforcement includes seizure and sale of assets, tracing of assets where fraudulent transfers occurred or preferences given, piercing corporations to obtain hidden property and garnishment of bank accounts and wages.
A judgment obtained outside of Ontario, whether another province or country needs to be registered in Ontario prior to starting enforcement proceedings.
Wolfson Law Professional Corporation.