Collection of Florida Judgments: A Guide for Law Firms

The collection of a judgment is often the most critical aspect of a lawsuit. After a court awards a review, the winning party may need help to collect the awarded funds from the losing party. The collection process can be difficult, time-consuming, and expensive, but it can be a successful venture with the right strategy and resources. This article will discuss the collection of Florida judgments and best practices for law firms handling collections.

Florida Judgment Collection Laws

The state of Florida has specific laws and procedures in place for the collection of judgments. According to Florida Statute 55.10, a decision becomes enforceable immediately after it is entered and remains enforceable for 20 years. After 20 years, the review can be renewed for an additional 20 years.

Several methods for collecting a judgment has wage garnishment, bank levies, and property liens. It is essential to know that certain exemptions apply to the collection process, such as homestead property and certain types of retirement accounts. A knowledgeable attorney can assist in navigating the collection process and determining the best course of action.

Law Firm Collections Best Practices

Know Your Client's Case

Before beginning the collection process, it is crucial to have a thorough understanding of your client's case. It includes the judgment amount, the defendant's assets and income, and applicable exemptions. A comprehensive knowledge of the case will ensure that the collection strategy is tailored to your client's unique needs and will increase the chances of a successful collection.

Keep Detailed Records

Maintaining accurate and detailed records is essential in the collection process. It includes a record of all correspondence and communication with the defendant and any payments received. Keeping detailed records can also assist in enforcement proceedings if necessary.

Stay Current on Collection Laws

The laws surrounding the collection of judgments can change frequently, so it is essential to stay updated on any changes or updates. Staying current on collection laws will ensure that your collection strategy complies with the latest regulations and will increase the chances of a successful outcome.

Utilize Technology

Technology has significantly impacted the collection process, providing law firms with new tools and resources to collect judgments. Utilizing technology, such as software for tracking payments and managing correspondence, can streamline the collection process and increase efficiency.

Be Proactive

In the collection process, time is of the essence. It is essential to be proactive and take swift action to collect the judgment before the defendant's assets, or income becomes challenging to access. It may include wage garnishment or a bank levy, and a knowledgeable attorney can assist in determining the best course of action.

Collecting a judgment can be complex and challenging, but it can be a successful venture with the right strategy and resources. By understanding Florida judgment collection laws, utilizing technology, keeping detailed records, staying current on collection laws, and being proactive, law firm collections’best prices can increase their chances of a successful collection outcome. If you are involved in a collection matter, it is recommended that you seek the assistance of a knowledgeable attorney to ensure the best possible outcome for your client.