You have every legal right to collect what is owed to you, but do you know what options are available?
Florida offers legal remedies to collect from your debtors and recover the money owed to you. Here are some to consider.
Filing a lawsuit
Creditors can begin the debt collection process by filing a lawsuit against the debtor. This legal action seeks to obtain a judgment for the amount of money owed. Once a judgment is granted, creditors can proceed with various collection methods to recover the debt.
Garnishment and attachment
After obtaining a judgment, creditors can use garnishment and attachment to recover the debt. A writ of garnishment involves deducting money directly from the debtor’s wages or bank account. Attachment allows creditors to seize non-exempt assets belonging to the debtor to satisfy the judgment.
Liens or execution
Creditors can use the execution process to collect money owed under a judgment by seizing personal and real property, with sale proceeds directed to the debt. Additionally, placing a lien on non-homestead property may also give you a legal claim to the property until the debt is paid off.
Exemptions of note
The law provides exemptions that protect specific assets from being seized by creditors, such as homestead property and personal items. They may also prevent wage garnishment in specific situations, such as when the debtor is the head of household and main breadwinner for dependents.
There are multiple options to consider when trying to recover from those who owe you. Having experienced legal guidance can help you choose the best Florida debt collection strategy.