A judgment creditor is a party to which a debt is owed that has proved the debt in a legal proceeding and that is entitled to use judicial process to collect the debt.[1] A creditor becomes a "judgment creditor" when a judgment is rendered stating that they are entitled to recover a particular debt from a judgment debtor. Following a judgment, a judgment debtor may satisfy the debt voluntarily or the judgment creditor may need to take additional steps to enforce the judgment.
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References
- ^ Lehman, Jeffrey; Phelps, Shirelle (2005). West's Encyclopedia of American Law, Vol. 6 (2 ed.). Detroit: Thomson/Gale. p. 46. ISBN 9780314201591.
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This page was last edited on 3 November 2021, at 05:41