Judgment collection (or Execution of Judgment) refers to the process taken after a prevailing part in a civil suit wins a money judgment.
Other common legal terms include:
Execution (or Writ of Execution)- If the winning party does not receive payments in a timely fashion or if no payment arrangement is made, the prevailing party may ask the Court to issue an execution. An execution is an order to the Sheriff or levying officer to assist the collection process. The judgment may be executed against a savings or checking account, personal property (not a necessity of life), wages, vehicles, or any other assets of the judgment debtor.
Praecipe - The winning party may ask the sheriff or a process server to serve papers on the other party. This process may involve additional steps, timelines and various fees. For example, it requires filling a praecipe, specifically identifying what to execute against.
Exemption - Certain property and percentages of assets may be exempt from collection, such as a percentage necessary to support the debtor and his/her family and for the necessities of life.
Judgment Satisfaction - Payment of the judgment is referred to as satisfaction. Generally, the creditor is responsible for notifying the Court as soon as the judgment is satisfied.