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

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hi there Anthony from contractors debt recovery again today we're going to talk about enforcing judgments how do you get a judgment against someone who's not paying you either through do dication under security of payments or statement of claim process through court you can get a judgment that can be filed in court or registered in court as a judgment against your debtor okay now enforcing judgments is the fun part of the whole process this is where you get your money this is where you enforce the righteousness you've managed to achieve through your payment dispute or through adjudication or whatever process you've gone to get judgment not enough people are interested in at i/o we won we won the case well now what now you want to get your money wasn't at the point of the whole process so what do we do here are the options available to you generally around Australia in various forms 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 seven thousand five hundred dollars there'll be a garnishee order you can get send it to the bank they'll look for your clients account if it's there and take the money out or take as much out if there's less than twenty seven and a half grand they'll take out everything alright if you don't know where your client banks you can simply garnish bank after bank after bank at no extra cost and get hit some pay dirt I've certainly done that a few times so garnishee order for sheer entertainment value that's in number one choice because there's no warning the money just comes out second you can do a rid of levy on property otherwise known as sending the sheriffs around the chefs will come around to your clients business or where they have property or vehicles or plant and sees it with the intent to auction it off and pay you out of the proceeds now whenever I've sent sheriffs around they usually walk out with a check from the client and that settles the dispute so that is open to you or it's a writ of execution a writ for levy on property or send the chefs around to seize property and sell at auction the fourth third one is a statutory demand you servicestack creditors statutory demand on your client after you've achieved judgment they have 21 days to pay or you can begin the windup process you can basically assert that they're trading while they are insolvent and move on from there so that's a very powerful lever to get your client to come out from under a rock and to pay you or to at least force a settlement the fourth one is an installment order so when you have a judgment against a client you can agree that they pay you by installments but an installment order is basically an agreement for them to pay you but 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 how much they pay you and what date every month they pay you so just to summarize some ways to enforce your judgment a garnishee order I read for levy on property send the sheriffs around a statutory demand and an installment order therefore big use for you think about it and remember don't lose interest when you get judgment that's only half the job getting your money is the full deal i'll see you next time

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

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