Unsecured Creditor rights before obtaining a judgment

Question 1

Unsecured Creditors try to do what to collect a debt…

Answer 1

call, demand letters, or withhold something of value

Question 2

If those efforts have failed, a unsecured debtor might file a lawsuit to go get a judgment. What does judgment get you?

Answer 2

a judicial lien

Question 3

Attachment liens occur

Answer 3

before judgment

Question 4

Sheriff seizes the property and..

Answer 4

holds it until the end of the lawsuit

Question 5

Attachment liens do what

Answer 5

establish priority and prevent disposure of the property before getting a judgment

Question 6

One of these grounds must be satisfied by the creditor before a court will issue a writ of attachment…

Answer 6

d is a foreign corp or out of state resident; d is about to remove himself from VA; d is removing the self-owned property from virginia; converting property to cash to hinder creditors; property is likely to be sold

Question 7

Procedure for attachment liens

Answer 7

1) petition for attachment that states
- creditor’s claim, amount of claim, grounds of claim

2) Bond

3) Judge reviews ex parte and issues writ of attachment

4) Sherrif seizes that specific property or random stuff amounting to the amount

5) File a lis pendens with the court where property is located (any bfp takes subject to attachment lien)

Question 8

distress for rent

Answer 8

pre-judgment lien for LL seeking unpaid rent

sherriff can seize goods on property or removed within the last 30 days

rent has to be from the last 5 years

creditor must still post a bond and meet one of the grounds