Security of Payment Act | Enforcing Your Judgment Options | Contractors Debt Recovery

caption hi there Anthony from specialists financial obligation recovery once again today we'' re going to talk about imposing judgments how do you get a judgment against somebody who'' s not paying you either through do dication under security of payments or statement of claim procedure through court you can get a judgment that can be submitted in court or registered in court as a judgment against your debtor okay now imposing judgments is the enjoyable part of the entire procedure this is where you get your cash this is where you enforce the righteousness you'' ve handled to attain through your payment disagreement or through adjudication or whatever process you'' ve gone to get judgment insufficient people have an interest in at i/o we won we won the case well now what now you desire to get your money wasn'' t at the point of the entire procedure so what do we do here are the options offered to you normally around Australia in various types the first one is a garnishee order you can get an order from the court for an order to be served on the bank where your client banks to suck the money out of their account if the judgment dead is twenty 7 thousand five hundred dollars there'' ll be a garnishee order you can get send it to the bank they'' ll appearance for your clients account if it'' s there and take the cash out or take as much out if there'' s less than twenty 7 and a half grand they'' ll get whatever alright if you don'' t know where your client banks you can just garnish bank after bank after bank at no extra cost and get strike some pay dirt I'' ve definitely done that a few times so garnishee order for large home entertainment worth that'' s in top option since there'' s no alerting the cash simply comes out second you can do a rid of levy on home otherwise called sending out the constables around the chefs will occur to your clients organisation or where they have residential or commercial property or vehicles or plant and sees it with the intent to auction it off and pay you out of the earnings now whenever I'' ve sent sheriffs around they normally go out with a check from the client which settles the disagreement so that is open to you or it'' s a writ of execution a writ for levy on home or send out the chefs around to take home and sell at auction the 4th third one is a statutory demand you servicestack creditors statutory demand on your client after you'' ve accomplished judgment they have 21 days to pay or you can start the windup procedure you can generally assert that they'' re trading while they are insolvent and carry on from there so that'' s an extremely powerful lever to get your customer to come out from under a rock and to pay you or to a minimum of force a settlement the 4th one is an installment order so when you have a judgment against a customer you can concur that they pay you by installations but an installation order is basically an agreement for them to pay you however that'' s an agreement they make with the court not with you so it'' s got some glue to it an installment order so you can agree just how much they pay you and what date monthly they pay you so just to summarize some methods to enforce your judgment a garnishee order I read for levy on property send out the sheriffs around a statutory need and an installment order for that reason huge use for you think about it and remember don'' t lose interest when you get judgment that'' s just half the task getting your money is the complete offer i'' ll see you next timeAs discovered on YouTube – Creative Commons License

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License: Creative Commons