Collecting Judgments Against the Savvy Judgment Debtor
September 7, 2016
The magazine of the South Carolina Bar, published an article in the September 2016 edition on collecting judgements, authored by Nexsen Pruet Attorneys Bruce Wallace and Kyle Brannon. "Show me the Money: Collecting Judgments Against the Savvy Judgment Debtor" discusses the steps to discover assets that were previously unseen.
"In real life, savvy debtors rarely produce cash to pay their debts. Instead, they have placed their wealth in investments that may be difficult to discover, attach and levy. But with careful investigation and planning, judgment creditors can reach assets that lay unseen."
Wallace and Brannon focus on major potential sources for recovery, starting with assets from third parties. In addition, they look at trust assets, shares in professional corporations, and charging orders and domestic LLC's.
Bruce Wallace practices in the firm's Business Litigation group, and Kyle Brannon practices with the Bankruptcy & Creditor's Rights group. Both have experience representing clients in Collections, Foreclosures and Bankruptcy.