A chose in action is essentially a right to sue. It is an intangible personal property right recognized and protected by the law, that has no existence apart from the recognition given by the law, and that confers no present possession of a tangible ob Fulton Georgia Assignment of Money Judgment is a legal process through which the right to collect a debt or money judgment is transferred from the original creditor, known as the judgment creditor, to another party, often referred to as the assignee. This assignment allows the assignee to step into the shoes of the judgment creditor and enforce the judgment on their behalf. In Fulton County, Georgia, there are primarily two types of Assignment of Money Judgments: absolute assignment and collateral assignment. 1. Absolute Assignment: In an absolute assignment, the judgment creditor transfers all rights and ownership of the money judgment to the assignee. By doing so, the judgment creditor relinquishes any further claim to the debt and no longer has the power to enforce the judgment. 2. Collateral Assignment: In a collateral assignment, the judgment creditor transfers a partial interest or assigns the right to collect only a portion of the money judgment to the assignee. While the assignee gains the authority to pursue collection on this specific portion, the judgment creditor retains the right to enforce the remaining part of the judgment. Fulton Georgia Assignment of Money Judgment is often used to facilitate the efficient enforcement of judgments. Judgment creditors may choose to assign their rights to a third party, such as a collection agency or a law firm specializing in debt recovery, to expedite the collection process. The assignee will then assume the responsibility of pursuing the debtor, locating their assets, and executing various legal remedies to satisfy the judgment. Keywords: Fulton Georgia, Assignment of Money Judgment, judgment creditor, assignee, debt collection, absolute assignment, collateral assignment, enforcement, debtor, collection agency, law firm, debt recovery, legal remedies, satisfaction of judgment.
Fulton Georgia Assignment of Money Judgment is a legal process through which the right to collect a debt or money judgment is transferred from the original creditor, known as the judgment creditor, to another party, often referred to as the assignee. This assignment allows the assignee to step into the shoes of the judgment creditor and enforce the judgment on their behalf. In Fulton County, Georgia, there are primarily two types of Assignment of Money Judgments: absolute assignment and collateral assignment. 1. Absolute Assignment: In an absolute assignment, the judgment creditor transfers all rights and ownership of the money judgment to the assignee. By doing so, the judgment creditor relinquishes any further claim to the debt and no longer has the power to enforce the judgment. 2. Collateral Assignment: In a collateral assignment, the judgment creditor transfers a partial interest or assigns the right to collect only a portion of the money judgment to the assignee. While the assignee gains the authority to pursue collection on this specific portion, the judgment creditor retains the right to enforce the remaining part of the judgment. Fulton Georgia Assignment of Money Judgment is often used to facilitate the efficient enforcement of judgments. Judgment creditors may choose to assign their rights to a third party, such as a collection agency or a law firm specializing in debt recovery, to expedite the collection process. The assignee will then assume the responsibility of pursuing the debtor, locating their assets, and executing various legal remedies to satisfy the judgment. Keywords: Fulton Georgia, Assignment of Money Judgment, judgment creditor, assignee, debt collection, absolute assignment, collateral assignment, enforcement, debtor, collection agency, law firm, debt recovery, legal remedies, satisfaction of judgment.
