After a judgment is entered against a debtor, the prevailing creditor (now a “judgment creditor”) will employ various tactics to collect on the judgment. State laws dictate the number of years a creditor may pursue collection on an outstanding judgment; typically, they are 10 to 20 years. Debtors whose attitude had been, “Go ahead and sue me, I don’t have any money” are surprised to learn that any assets they acquire for the next several years can be seized or forfeited in satisfaction of an outstanding judgment.
