NACM Oregon Business Credit Journal
JULY/AUGUST 2013
NEWSLETTER Page 1
Tips For Turning That Court Judgment Into Money
In This Issue
Laurie R. Hager, Attorney
Tips For Turning That Court Judgment Into Money ............ 1
One of the most common reasons for a business (or person) to file a lawsuit is because it believes it is owed money. The debt claimed may be the result of a breach of contract, a personal injury, or an injury to property.
Chair’s Message...................... 3 President’s Message................ 3
No matter how the debt arose, a successful claimant will receive the same piece of paper at the end of the case: a judgment from the court requiring the defendant (now the judgment debtor) to pay the business or person claimant (now the judgment creditor) a certain sum of money. These judgments are wonderful pieces of paper. However, claimants cannot take a judgment to the bank and exchange it for cash. So, how do claimants get what they really wanted in the first place – money from judgment debtors?
2013-14 Board Members......... 4 International Corner................ 6 Honors & Awards.................... 7 Certification Program............... 7 NOF Scholarships.................... 8 Certification Success............... 9
There are a number of options, and the best one will depend on the circumstances of each case (or on the particular judgment debtor). For example, a judgment creditor can garnish a judgment debtor’s bank accounts or employer to obtain money. A judgment creditor also can garnish a person or business to intercept money that would otherwise be paid to the judgment debtor. A judgment creditor also can have the sheriff sell the judgment debtor’s real estate or personal property. Other collection options exist as well.
Designation of Excellence Award Nomination Form.................... 10
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Contacts................................. 18
Higher Education Financing..... 12 Education............................... 15 Credit Learning Center............ 16
International Communication Tips for Credit Professionals Personal relationships are an
important part of business dealings in Latin America, where punctuality is a variable commodity and business meetings often start and end late. In France, a bright line separates a person’s work life and their home life. Business people in certain Arab countries sometimes use the word “yes” in order to delay a decision, rather than to make one.
Every culture has its standards and mores, and recognizing them, or, at the very least, not running afoul of them, is a vital part of any credit and risk professional’s international development. Here are some tips: Know Before You Go Do your research on the culture of the country that you’re exporting to before you export to them. If possible, get in
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Portland, Oregon 97213
touch with your own company’s human resources in that country in order to practice and prepare before getting in touch with your newest international customer. Recognize High Context vs. Low Context Communication Styles High context cultures like those in Asia or the Middle East communicate
Tel 503.257.0802
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