HOME

TheInfoList



OR:

A ''judgment creditor'' is a party to which a
debt Debt is an obligation that requires one party, the debtor, to pay money Loan, borrowed or otherwise withheld from another party, the creditor. Debt may be owed by a sovereign state or country, local government, company, or an individual. Co ...
is owed that has proved the debt in a legal proceeding and that is entitled to use judicial process to collect the debt. A
creditor A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some propert ...
becomes a "judgment creditor" when a judgment is rendered stating that they are entitled to recover a particular debt from a
judgment debtor In English law, English and Law of the United States, American law, a judgment debtor is a person against whom a judgment ordering him to pay a sum of money has been obtained and remains unsatisfied. Such a person may be examined as to their assets ...
. Following a judgment, a judgment debtor may satisfy the debt voluntarily or the judgment creditor may need to take additional steps to enforce the judgment.


References

{{law-stub Judgment (law)