judgment creditor
Definition
Noun: - A "judgment creditor" is a person or entity that has obtained a court judgment (a formal decision from a court of law) declaring that they are owed money by another party, known as the debtor. This legal status grants the creditor the right to collect the debt through various legal means, such as garnishing wages or seizing assets.
Usage Examples
- (The company now has the court's permission to collect the debt.)
- (The bank used its legal right to collect the money owed.)
Advanced Usage
- "to be a judgment creditor in good standing": to hold a valid, enforceable court judgment that has not expired or been satisfied.
- The court confirmed that she remains a judgment creditor in good standing, allowing her to continue collection efforts. (Her legal right to collect the debt is still active.)
- "to become a judgment creditor": to obtain a court judgment in one's favor in a legal dispute over a debt.
- He became a judgment creditor after the court ruled in his favor in the small claims case. (He gained the legal right to collect the owed amount.)
Variants and Related Words
- Judgment (n): a formal decision or ruling from a court.
- The judgment was issued in favor of the plaintiff. (The court's decision was announced.)
- Creditor (n): a person or organization to whom money is owed.
- The creditor demanded repayment of the loan. (The lender asked for the money back.)
- Judgment debtor (n): the person or entity who owes money under a court judgment.
- The judgment debtor failed to pay the amount ordered by the court. (The debtor did not comply with the judgment.)
Synonyms
- Court-awarded creditor: a creditor who has been granted the right to collect by a court.
- Legal creditor: a creditor whose claim has been validated by law.
Related Idioms
- To have a judgment in hand: to possess a court order that confirms a debt is owed.
- With the judgment in hand, the creditor could start the collection process. (Having the court order allowed the creditor to take action.)