Are there any procedures available to secure assets of a debtor before obtaining a judgment

Yes, and under certain circumstances, there are procedures available to obtain the assets of a debtor before obtaining judgment against the debtor. A secured creditor has a right to peaceable repossession of the collateral. That’s commonly thought of as a repossession or something along those lines, where the creditor goes and recovers possession of an automobile or other personal property that secures the debt.

There are also court actions in the form of a replevin lawsuit that can be filed to secure possession of the collateral while the ultimate determination on the claim on the debt remains pending. The creditor is allowed to essentially keep possession of the collateral or personal property while the lawsuit is pending.

There are other remedies available to obtain property of the debtor prior to entry of a judgment, for example, prejudgment writ of garnishment, but that is unusual and is only pursued under unusual circumstances because the law presumes that a party is entitled to obtain possession of the property until a claim against the party is proven in a court of law.

Law FAQ