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BizIPEsq., Attorney
Category: Business Law
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Experience:  I am a business attorney. I represent individuals and companies with all business related matters.
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I have a question about selling judgments. In the past Ive

Resolved Question:

I have a question about selling judgments.

In the past I've been given advice that I can sell a judgment. On new court pleadings I was instructed to put something similar to:

"ABC Company as assignee for Plaintiff XXXXX XXXXX, Plaintiff"

Then ABC company could execute writs, etc. I am wondering if it's possible in any way to remove XXXXX XXXXX from the pleadings. The pleadings would just say "ABC Company, Plaintiff" or "ABC Company as Assignee of Judgment Creditor"
Submitted: 1 year ago.
Category: Business Law
Expert:  BizIPEsq. replied 1 year ago.

BizIPEsq. :

Hello, I will be assisting you.

BizIPEsq. :

Each state has its own regulations when it comes to assignment of judgments. Let me do some research about Utah.

BizIPEsq. :

I will need to log off and do some research so please bear with me.

Customer:

Please switch to Q&A mode. Chatting doesn't work well in my browser.

BizIPEsq. :

Provided there is an existing judgment and provided the plaintiff creditor filed with the court an acknowledgment of assignment of judgment to a third party, then that third party steps into the shoes of the original judgment creditor for collection purposes. The third party becomes the party that makes the various required filings necessary for collections, so reference to the old party is no longer required in the caption block (the area where the parties' names are noted) of a new action.

BizIPEsq. :

So as per your example, you can remove XXXXX XXXXX from the pleadings in a new action in connection with matter.

BizIPEsq., Attorney
Category: Business Law
Satisfied Customers: 996
Experience: I am a business attorney. I represent individuals and companies with all business related matters.
BizIPEsq. and 4 other Business Law Specialists are ready to help you
Expert:  BizIPEsq. replied 1 year ago.

I have switched to Q&A as requested.

 

Thank you for allowing me to assist you.

Customer: replied 1 year ago.

I appreciate the answer.


 


Do I say "ABC Company" is now the Plaintiff or do I have to call "ABC Company" the judgment creditor?


 


Also, you mentioned you had to do some research. Where is it you found the answer?

Expert:  BizIPEsq. replied 1 year ago.
Generally, the caption for the new action would read ABC Company as plaintiff. Then in the body of the complaint it is typically explain how ABC came to be the plaintiff.
Customer: replied 1 year ago.

There is a judgment so the complaint part is over. There would just be a writ of execution to seize property. I would assume I would just file an assignment of judgment to explain it and then never have to list the connection between new plaintiff and old again right?

Expert:  BizIPEsq. replied 1 year ago.
You must file an assignment of judgment. Although you may still want to explain in the body of the pleadings the procedural history -- just to be on the safe side.

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