Precise and Writ of Execution upon a Confessed Judgment is a legal process in Pennsylvania that allows creditors to collect on a debt that has already been agreed to by the debtor. The process begins with the creditor filing a Precise with the Prothonotary of the court in the county where the debtor resides. The Precise must include the name of the debtor and creditor, the case number, the amount of the judgment, and the interest rate (if any). Once the Precise is filed, the Prothonotary issues a Writ of Execution to the Sheriff of the county. The Sheriff then serves the Writ of Execution on the debtor, who is then required to pay the full amount of the judgment within 30 days. If the debt is not paid in full within the 30-day period, the Sheriff will levy the debtor's property to satisfy the debt. There are three main types of Pennsylvania instructions for Precise and Writ of Execution upon a Confessed Judgment: 1. Precise for Entry of Judgment: This is the first step in the process, where the creditor files a Precise for Entry of Judgment with the Prothonotary. 2. Writ of Execution: This is the second step, where the Prothonotary issues a Writ of Execution to the Sheriff of the county. 3. Precise for Levy: This is the third and final step, where the Sheriff levies the debtor's property to satisfy the debt.
Precise and Writ of Execution upon a Confessed Judgment is a legal process in Pennsylvania that allows creditors to collect on a debt that has already been agreed to by the debtor. The process begins with the creditor filing a Precise with the Prothonotary of the court in the county where the debtor resides. The Precise must include the name of the debtor and creditor, the case number, the amount of the judgment, and the interest rate (if any). Once the Precise is filed, the Prothonotary issues a Writ of Execution to the Sheriff of the county. The Sheriff then serves the Writ of Execution on the debtor, who is then required to pay the full amount of the judgment within 30 days. If the debt is not paid in full within the 30-day period, the Sheriff will levy the debtor's property to satisfy the debt. There are three main types of Pennsylvania instructions for Precise and Writ of Execution upon a Confessed Judgment: 1. Precise for Entry of Judgment: This is the first step in the process, where the creditor files a Precise for Entry of Judgment with the Prothonotary. 2. Writ of Execution: This is the second step, where the Prothonotary issues a Writ of Execution to the Sheriff of the county. 3. Precise for Levy: This is the third and final step, where the Sheriff levies the debtor's property to satisfy the debt.
