What Other Measures Can I Take To Make Sure I Get Paid?
When most people think of levies, they think of bank accounts, wages and real property. The reality is you can actually levy almost any of your debtor’s property. Contractual rights to payment are often valuable assets. For example, many entertainers have residual payments coming in from studios. Through an intangible levy, you can redirect those payments away from your debtor and into your pocket. Landlords are another common example. If your debtor has tenants under a lease agreement, you can levy monthly rent payments.
If you place a lien on your debtor’s contractual right to payment, those payments must be directed to you. If the payer fails to do so, that party becomes liable to you for the debt.
Other assets include:
- Cars, boats and other recreational equipment
- Expensive jewelry and works of art
- Precious metals
- Stocks and bonds
- Luxury items
How We Turn Your Debtor’s Property Into Cash
First, we identify all assets of value. We do this through diligent investigation, including debtor examinations, subpoenas and the examination of court records. We examine the value of each property and determine which are worth pursuing.
California law exempts certain property from levy. This includes all reasonable household furnishings, the first $2,500 worth of jewelry and artwork, and tools of the trade. Knowing which properties to pursue is half the battle.
We also investigate properties to determine whether they are being used to secure a third-party debt. Properties that are already subject to liens may not be worth the time, effort and cost associated with a public sheriff’s sale.
Attorney Joshua Friedman will then obtain a seizure order from the court, allowing an officer to enter your debtor’s property to seize assets. The sheriff’s office collects the assets and sells them at a public auction to the highest bidder. You get the proceeds.
Collecting Debt Can Be Hard. Let Us Handle It For You.
We have been helping clients collect money for more than 14 years. He knows what makes debtors tick and what it takes to make them pay. For more information about our services or to discuss your situation in a free consultation, get in touch with our Los Angeles firm through our online contact form or call 310-278-8600.