What is a pre-judgment remedy?

A pre-judgment remedy is a type of legal action that a creditor may take when a debtor fails to pay a debt. It is allowed under South Carolina’s Debtor and Creditor Law and may be used when a debtor does not comply with the terms of an agreement. In South Carolina, a pre-judgment remedy can include seizing the debtor’s property, such as money or goods. A court order must generally be obtained before seizing property, and creditors are usually required to demonstrate that they are likely to prevail in the debt lawsuit and be able to prove that the debtor owns the property that is being seized. There are certain exemptions that creditors must be aware of when seeking to seize a debtor’s property. Creditors can also use pre-judgment remedies to block a debtor from transferring certain assets. This is called financial freezing and is often used if a debtor is about to get paid but has not yet paid the debt. Pre-judgment remedies are useful legal tools for creditors, but can present a hardship for debtors. If a pre-judgment remedy has been placed on your property, speak to an experienced debt attorney for guidance.

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What is a pre-judgment remedy?

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