I would like to thank my colleague Tony Buchignani for this week's legal portion.
Will a judgment be worth the paper it's printed on? This is a question that every creditor should ask itself before filing a collection lawsuit against a debtor that is not paying its bills. Lawsuits can be time consuming and expensive ventures, and clients are often frustrated when they find out that their hard earned judgments cannot be converted to money because they cannot locate any debtor assets to garnish or levy. Accordingly, an experienced attorney will always perform a comprehensive pre-lawsuit investigation of the debtor's collectable assets as well as significant liabilities before advising a client to pursue a collection lawsuit. In some cases, such an investigation may cause the creditor to simply write off a bad debt, rather than "throwing good money after bad" obtaining a judgment that will not result in a collection.