Define: Judgement Creditor

Judgement Creditor
Judgement Creditor
Quick Summary of Judgement Creditor

A judgement creditor is a party who has obtained a court judgement against another party, known as the judgement debtor, for the payment of a sum of money or other relief. The judgement creditor holds a legal right to enforce the judgement against the debtor to collect the amount owed. This enforcement can include various measures such as garnishing wages, placing liens on property, seizing assets, or other legal actions to satisfy the debt owed by the judgment debtor. The judgement creditor typically seeks to enforce the judgement through legal proceedings or enforcement mechanisms provided by law to recover the amount awarded by the court.

What is the dictionary definition of Judgement Creditor?
Dictionary Definition of Judgement Creditor
n. the winning plaintiff in a lawsuit to whom the court decides the defendant owes money. A judgment creditor can use various means to collect the judgment. The judgment is good for a specified number of years and then may be renewed by a filed request. If the defendant debtor files for bankruptcy, the judgment creditor will have priority (the right to share in assets) ahead of general creditors who are not secured by mortgages or deeds of trust and do not have judgments. However, if the bankrupt person has no assets, this becomes an empty advantage.
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This glossary post was last updated: 29th March, 2024.

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