What is a judgment and how can a creditor collect on a judgment?
A judgment is basically a decision by a court as to who won a case. If the creditor or collector receives a judgment in their favor (i.e., if they win in court), then they may seek to enforce or collect on the judgment. To actually enforce the judgment, the judgment creditor (i.e., the creditor that won in court and received a judgment against you) must typically bear the time and expense to go back to court and attempt to have the court allow the judgment creditor to enforce the judgment. The available enforcement options vary from state to state. Some of the more common means of enforcing a judgment are wage garnishment; bank levy and judgment lien.
