Users' questions 

What happens at a citation to discover assets hearing?

Leia Doyle

What happens at a citation to discover assets hearing?

A Citation to Discover Assets to Debtor is a court document requiring the debtor to come to court and answer questions about their property and income. Then, the judgment creditor can try to get that property or income to pay the judgment, if it is not protected by law.

How do creditors find out about your assets?

Once it has a judgment, a creditor may serve you with notice of a debtor’s examination. The notice will order you to appear at a certain place at a certain time and testify, under oath, about your assets. If you don’t show up, the court could hold you in contempt of court and issue a warrant for your arrest.

What is an asset hearing?

Hearing To Disclose Assets. You can get the court to order the judgment debtor to go to court to answer questions about the property they own and how much money they make.

What is a 3rd party citation?

A: You got a “third party” citation to discover assets. As the name suggests, it’s directed to a third party, outside the basic court case between plaintiff and defendant. The creditor who got a judgment in that case is trying to collect by intercepting money that you may owe the debtor.

Can creditors find out where you bank?

A creditor can merely review your past checks or bank drafts to obtain the name of your bank and serve the garnishment order. If a creditor knows where you live, it may also call the banks in your area seeking information about you.

Can creditors find out where you work?

All they need to do is contact The Work Number and the information is provided to them. However, the dark side of all of this is that if your employer uses The Work Number (and many large employers do) your information will be added to this database and debt collectors can use it to find out where you work.

Do creditors know your income?

Income is not part of your credit report. And while lenders often factor your income into their lending decisions, they’ll typically get that information directly from you during the credit application process.

How is wage garnishment calculated in Illinois?

Multiply the debtor’s gross weekly wages by . 15, and write this number down. Subtract 495 from the debtor’s net (take home) weekly wages, and write this number down. The lower of the two numbers is how much the creditor can garnish from the debtor per week.

What is a turnover order in Illinois?

A wage garnishment is when a part of a person’s wages are taken to pay for a debt they owe. This is also called a turnover order. The person who owes the money is called the debtor . The person they owe the money to is called the creditor . You may be called the respondent .

Miscellaneous 

What happens at a Citation to Discover Assets hearing?

Leia Doyle

What happens at a Citation to Discover Assets hearing?

A Citation to Discover Assets to Debtor is a court document requiring the debtor to come to court and answer questions about their property and income. Then, the judgment creditor can try to get that property or income to pay the judgment, if it is not protected by law.

What is a 3rd party Citation?

A: You got a “third party” citation to discover assets. As the name suggests, it’s directed to a third party, outside the basic court case between plaintiff and defendant. The creditor who got a judgment in that case is trying to collect by intercepting money that you may owe the debtor.

What is a Bank Citation?

A Citation to Discover Assets to Debtor’s Bank is a court document that tells the bank to answer questions about the debtor’s property and income.

How to collect judgment in Illinois?

Enforcement proceedings (also known as collection actions) to collect judgments are governed primarily by 735 ILCS 5/2-1402. This statute provides three main tools for enforcing and collecting judgments: (1) the Citation to Discover Assets; (2) wage garnishment proceedings; and (3) non-wage garnishment proceedings.

Where do I find ABA?

You can find the ABA routing number at the bottom of your checks. The ABA Routing Number is the left-most number, followed by your account number, and then by the number of the check.

How do you do APA format?

Throughout your paper, you need to apply the following APA format guidelines:

  1. Set page margins to 1 inch on all sides.
  2. Double-space all text, including headings.
  3. Indent the first line of every paragraph 0.5 inches.
  4. Use an accessible font (e.g., Times New Roman 12pt., Arial 11pt., or Georgia 11pt.).

What personal property can be seized in a Judgement in Illinois?

What kind of property is subject to a judgment lien under Illinois law? In every state, a judgment lien can be attached to the debtor’s real estate — meaning a house, condo, land, or similar kind of property interest.

What is the difference between ABA and ACH?

ABA routing numbers are printed at the bottom left of the checks. ACH routing numbers are also nine-digit numbers, but one needs to confirm with the bank if the ABA and ACH numbers are the same. ABA routing numbers are used for paper or check transfers; whereas ACH routing numbers are used for electronic transfers.

Are ABA and routing numbers the same?

An ABA number (also known as routing number or routing transfer number) is a sequence of nine numeric characters used by banks to identify specific financial institutions within the United States.

What is APA format citation?

When using APA format, follow the author-date method of in-text citation. This means that the author’s last name and the year of publication for the source should appear in the text, for example, (Jones, 1998), and a complete reference should appear in the reference list at the end of the paper.