Judgment creditor
A judgment creditor is a party to which a debt is owed that has proved the debt in a legal proceeding and that is entitled to use judicial process to collect the debt.[1] A creditor becomes a "judgment creditor" when a judgment is rendered stating that they are entitled to recover a particular debt from a judgment debtor. Following a judgment, a judgment debtor may satisfy the debt voluntarily or the judgment creditor may need to take additional steps to enforce the judgment.
References
- "Judgment creditor". The Free Dictionary. Farlex. Retrieved 8 November 2015.
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Wikisource has the text of the 1921 Collier's Encyclopedia article Judgment Debt. |
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