Use a "memorandum of costs"
or "declaration of costs" order to ask for the amount of the
judgment to be
raised for expenses and interest and to record any money the debtor has paid
you. Don't forget to figure in the
additional accrued interest to date. Keep
all bills and receipts in case the debtor contests the
charges. This includes attorney fees, process server fees, filing fees,
etc. Just about every cost related to your judgment should be
documented and can be recovered. See the Memorandum
of Costs example.
If you file a "memorandum of costs" you must serve the debtors with a
copy personally or by mail. They usually have ten days to contest it with appropriate
forms, but
they usually don't. Even if they do contest the costs, the court will usually give you what
you
asked, assuming that the expenses are reasonable.
Its a good idea to file a "memorandum of costs" when you file your
"writs of execution" since
you will already be at the courthouse. Make sure that you recover your costs before the judgment is satisfied or you
can't recover them. Creativity, Compromise
& Settlement
If you chose to contact your debtor or they contact you, you can suggest some
ways to pay the money like borrowing it or getting a cash advance on a credit
card. Be creative. For
example, if they own a store or service business you might be able to barter with them for
goods or services.
Sometimes you must remember that half a loaf is better
than none, compromise, and make a settlement.
Closing The Books
After you've collected all your money, don't forget to file a "satisfaction of judgment" with the court and
have the debtor
served with one to, usually by mail. Also, make sure that you release all liens and
garnishments or property that belongs to the debtors. Failure to do these
things could actually subject you to a lawsuit for damages.
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