What is a judgment lien?

A judgment lien is a legal right that a creditor, or lender, has to a property or asset of a debtor if they win a lawsuit for the payment of a debt. This lien gives the creditor the right to collect the money they are owed by selling the property or asset. In Washington, the lien is established when the court enters a judgment in the form of a court order in favor of the creditor. Judgment liens can be placed on real estate, such as the debtor’s home, or on personal property, such as bank accounts or cars. Once the court issues the judgment, the lien is effective immediately and will remain in place until the debt is paid or discharged in bankruptcy. The type of property or asset that a creditor can place a lien on depends on Washington’s consumer debt defense law. The law outlines what type of assets are exempt from a judgment lien or any other claim. For instance, personal property, like motor vehicles, are usually exempt from a lien, unless the property was used as collateral for the debt. It’s important to understand that a judgment lien gives the creditor the legal right to force the sale of the debtor’s property. A creditor can exercise this right after they receive a court order, so it’s important to understand the law and take all necessary steps to protect your assets if you are dealing with a creditor or lender.

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