JUDGMENT CREDITOR Meaning and
Definition
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A judgment creditor refers to an individual or entity that has obtained a legal judgment against another party through a court of law. This judgment can arise from various legal proceedings, such as a lawsuit or a default judgment. Once a judgment is obtained, the victorious party becomes the judgment creditor, and the opposing party becomes the judgment debtor.
As a judgment creditor, the individual or entity is entitled to enforce the court's decision and ensure that the judgment debt is paid. This includes pursuing various legal remedies to collect the money owed, such as wage garnishment, bank levies, or property liens. The judgment creditor has the right to pursue recovery of the debt through any available means allowed by law.
It is important to note that a judgment creditor has a legal interest in ensuring the judgment debt is satisfied, and they have the power to take measures to protect their rights. They may seek assistance from the court in enforcing the judgment or hire professionals, such as collection agencies or attorneys, to assist in the collection process.
In summary, a judgment creditor is the party who has been awarded a judgment by a court against another individual or entity. They have the legal right to pursue and enforce the judgment debt through various means permitted by law.
Common Misspellings for JUDGMENT CREDITOR
- hudgment creditor
- nudgment creditor
- mudgment creditor
- kudgment creditor
- iudgment creditor
- uudgment creditor
- jydgment creditor
- jhdgment creditor
- jjdgment creditor
- jidgment creditor
- j8dgment creditor
- j7dgment creditor
- jusgment creditor
- juxgment creditor
- jucgment creditor
- jufgment creditor
- jurgment creditor
- juegment creditor
- judfment creditor
- judvment creditor
Etymology of JUDGMENT CREDITOR
The word "judgment creditor" can be broken down into two components: "judgment" and "creditor".
1. "Judgment": The word "judgment" derives from the Latin word "judicium", which means "judgment" or "decision". The Latin word stems from the verb "judicare", meaning "to judge" or "to decide". "Judgment" refers to the final decision or ruling made by a court of law in a legal case.
2. "Creditor": The term "creditor" comes from the Latin word "creditor", which is derived from the verb "credere", meaning "to believe" or "to trust". "Creditor" refers to a person or entity to whom a debt is owed or someone who has extended credit to another party.
