How to Collect Payment and Debt?

If your payment is based on an express or implied contract, then you can pursue an attachment remedy against the debtor’s property. In order to bring an attachment, you need to file a complaint and at the same time you file an application for attachment.   If a court finds that you have shown a valid contract claim for attachment to issue then the court orders for you to attach the debtor’s property up front at the lawsuit.  In this way you can secure the property for your claim and the remaining process is to proving you have a valid claim for your judgment. By securing your judgment up front, you remove your concerns over removing assets by a debtor.    
 
There may be an alternative way.  If a debtor is cooperating with you and confirming he will pay you if you provide some more time, then you may consider allowing some payment arrangement in exchange for the debtor signs written confirmation and document securing his property for his promised payments.   If the debtor has a valid property to secure the debt and signs such documents, you may avoid incurring expense of filing lawsuit and attachment application.  You may want to examine the property carefully to make sure it has valid and enough equity covering your debt since once you take a security, you cannot bring a lawsuit until you exhaust your security remedy under the one action rule.
 
If you need assistance for collection of payments, whether you lent money or sold goods, please contact Shin Law Firm at 415-788-7446, email to [email protected] or use Contact Page.