- How does the process work?
SCCO requires the original Execution before proceeding in any action upon a Judgment Debtor/Defendant. Once we have the original Execution we will begin a review of the Judgment Debtor/Defendant assets to determine value and that they meet current exemptions. SCCO will then validate ownership of assets to be those of the Judgment Debtor/Defendant. Once we are satisfied with the investigation accuracy, we will initiate the levy upon the Judgment Debtor/Defendant.
- What assets can be levied?
Any real or personal property, including Real Estate may be levied. Items such as watercraft, motorcycles, automobiles, planes, business equipment, etc are all subject to levy. Levy upon real estate places a lien upon the property that would need to be satisfied upon sale or re-finance. It does not force sale of property in Massachusetts.
- Can I levy upon personal or business property?
The determination of what can be levied is subject to (1) the listed Judgment Debtor/Defendant on the court document, and (2) the assets registered owner. If the Execution is against an individual then the property needs to be registered to that individual. If the Execution is against a Corporation or LLC then assets of that business may be levied upon. If the entity is a d/b/a they are subject to levy in either the individual or company name.
- How fast do I get my money after seizure/levy?
Massachusetts Law provides four days for the Judgment Debtor/Defendant to make remedy. If in these four days the Judgment Debtor/Defendant satisfies the Judgment in full, they are entitled to return of their property. If they fail to satisfy in that time frame the property is put up for public auction. Depending on bids received the Constable may sell property or adjourn if bids are unsatisfactory based on property evaluation.
When sale is complete the proceeds are disbursed as follows: (1) Liens on property, (2) associated fee from levy, (3) Judgment amount, (4) overage, if any, to Judgment Debtor/Defendant.
- What happens if the auction does not satisfy my Judgment fully?
If the sale of property does not satisfy the Judgment the Judgment Creditor/Plaintiff may still pursue for the remainder. This may include additional levies, Capias or other measures to satisfy Judgment.