Cartoon Guy Holding Stack Of Books

Lemon Law

ABC Blocks

The winning plaintiff in a lawsuit to whom the court decides the defendant owes money. a judgment creditor can use various means to collect the judgment. the judgment is good for a specified number of years and then may be renewed by a filed request. if the defendant debtor files for bankruptcy, the judgment creditor will have priority (the right to share in assets) ahead of general creditors who are not secured by mortgages or deeds of trust and do not have judgments. however, if the bankrupt person has no assets, this becomes an empty advantage.

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.