What is a judgment lien?
A judgment lien is a legal tool that allows creditors to secure the debt they are owed by a debtor. It does this by providing them with a claim against the debtor’s real estate or personal property. In New Hampshire, creditors may use the lien to place a claim and collect the unpaid debt from a debtor’s property or assets. When the court grants a judgment lien, it creates a lien on the debtor’s real estate or personal property. This means that if the debtor owns property, the creditor can use the lien to take possession of it in order to pay off the debt. The lien essentially serves as a security for the debt in question, as the creditor can use it to take possession of the debtor’s property if the debt is unpaid after the court’s ruling. In addition to attaching a lien to a debtor’s property, creditors may also use a lien to force the debtor to pay their debt by garnishing their wages or accounts. A garnishment is when a portion of the debtor’s wages or bank accounts are taken and used to pay off the debt. In New Hampshire, the court grants the lien and a garnishment order, which allows the creditor to take the action they need to collect the debt. In conclusion, a judgment lien is a legal tool used by creditors in New Hampshire to secure debt. It allows them to attach a lien to the debtor’s real estate or personal property, or force payment of the debt by garnishing the debtor’s wages or accounts. This provides creditors with the security that the debt will be paid in the event that the debtor does not pay it willingly.
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