How long will it take to get a Judgment?
If the defendant is served within two or three days of filing the complaint, and the defendant fails to responds, a final default judgment may take approximately six weeks. If the defendant has insufficient defenses, then perhaps approximately two months. If the defendant has substantial defenses, it would be a case by case analysis.
How do I analyze if it is cost-effective to pursue this matter?
By looking at the case backwards, i.e. reviewing the collectibility of the anticipated judgment debtor.
In a commercial debt, 1) researching if other creditors are pursuing, e.g. judgment liens and UCCs; and 2) Reviewing the tangible assets on the premises which do not have liens; and if the debtor transferred business assets to an insider, i.e. shell corporation or family member, to avoid creditors.
In a consumer debt, 1) researching the individual’s status vis a vis debtor-friendly exemption laws, e.g. homestead, tenancies by the entireties, head of household earnings, retirement funds.
If exemptions do not apply, review investment property’s equity, vehicle and vessels’ lien status, and if the consumer may have transferred assets to avoid the creditor.
How long will it take to recover the rental property?
In an eviction proceeding, if the tenant fails to respond within 5 days of service, or fails to deposit money in the Court registry, then 5-10 days, depending on the Judge’s and the Sheriff’s docket. If the tenant does respond and deposit monies in the registry, then a case by case analysis.
In a replevin of personal property, if the creditor posts a bond for twice the value of the property, and a writ and break order are issued, then approximately 5-10 days, depending on the Judge’s and Sheriff’s dockets, and the property has not been moved since filing the action.
If the action is not pre-judgment, by not posting bond, approximately 30 days after service, a show cause hearing will take place, and if successful, then approximately 5-10 days from the hearing, depending on the Sheriff’s docket and the property has not been moved since filing the action.
Didn’t find what you were looking for? Send in a question through this contact form or call the office at (305) 358-9045.