Frequently Asked Questions (FAQ)Common Questions
Depending on the particular facts in your situation, a judgment could take as little as 6 weeks or as much as 2-3 months or more. If the debtor has substantial credible defenses, a case analysis would need to be undertaken to determine an approximate length of time to judgment.
How do I analyze if it is cost-effective to pursue this matter?
By looking at the case backward and reviewing the collectability of the anticipated judgment debtor.
In a commercial debt, research whether other creditors are pursuing (judgment liens and UCCs) and review the tangible assets on the premises which do not have liens. Determine if the debtor transferred business assets to an insider, such as a shell corporation or family member, to avoid creditors.
In a consumer debt, research 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 the investment property’s equity, vehicle/vessel 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, it depends on the judge’s docket and the Sheriff’s docket. If the tenant fails to respond within 5 days of service or fails to deposit money in the Court registry, then it could be as little as 5-10 days. If the tenant does respond and deposit monies in the registry, then a case-by-case analysis would be necessary to determine a time frame.
In a replevin of personal property, again dependent upon the workload of the judge and the Sheriff, this too could be resolved within 5-10 days. Factors that impact timing include whether the creditor posts a bond for twice the value of the property, whether writ and break order are issued, and whether the property has/has not been moved since filing the action.
If the action is not pre-judgment, in less than 45 days if not posting bond. Usually, in about 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.
The firm is ready and available to assist you today. Call for an appointment (786) 423-6898 . Request A Consultation .