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LSDefine

Simple English definitions for legal terms

creditor's suit

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A quick definition of creditor's suit:

Term: Creditor's Suit

Definition: A creditor's suit, also known as a creditor's bill, is a legal action taken by a creditor to reach property that cannot be obtained through the usual process of enforcing a judgment. This type of lawsuit is used when a judgment creditor seeks to collect a debt owed by a debtor who has no other assets that can be seized. Essentially, it is a way for a creditor to try and recover money owed to them by going after property that would otherwise be protected from seizure.

A more thorough explanation:

Definition: A creditor's suit, also known as a creditor's bill, is a legal action taken by a creditor to reach property that cannot be reached through the normal process of enforcing a judgment. This is an equitable suit that allows a judgment creditor to seek relief from the court to collect on a debt owed to them.

  • If a creditor has obtained a judgment against a debtor but the debtor has no assets that can be seized to satisfy the judgment, the creditor may file a creditor's suit to try to reach other property that the debtor owns.
  • For example, if a debtor owns a piece of property that is held in a trust, the creditor may file a creditor's suit to try to reach that property and satisfy the judgment.

These examples illustrate how a creditor's suit can be used to reach property that would otherwise be protected from seizure by a judgment creditor. By filing a creditor's suit, the creditor is seeking to obtain relief from the court that will allow them to collect on the debt owed to them.

creditors' meeting | credit rating

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General chat about the legal profession.
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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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