NOTICE: The following are general answers to frequently asked questions. The facts and circumstances of your particular situation may result in different answers than the general responses provided below. Receiver Jenkins and this law firm do not represent you and nothing contained in this website should be considered as providing you with legal advice on your legal matter.
What is a Receivership?
A “receivership” is a remedy provided by CPRC 31.002 (Texas Turnover Statute) where a defendant’s nonexempt assets are placed into the legal custody of the Court to pay off a judgment.
What is a Receiver?
A Receiver is an independent officer of the Court appointed by the Judge by a Receivership Order to locate and liquidate nonexempt assets for the payment of a Judgment. The Receiver, even though he is an attorney, does not represent the plaintiffs or defendants in the case.
Should I hire a lawyer?
We never discourage a person from seeking legal advice and to explore all options.
Why is my bank account frozen?
Most turnover receivership orders provide that all nonexempt property (which may include bank funds) be turned over to the Receiver to pay off the Judgment and Receivership. When a bank is served with a Receivership Order, it reviews its accounts and freezes any accounts the bank believes to be indebted to or owned by the defendant.
How can I resolve this Receivership?
At Jenkins Law Firm, our goal is to reach a swift resolution that will resolve the Judgment and conclude the receivership to the benefit of all parties. To begin the resolution process, please contact our office with your proposal.
Can I come to your office to discuss this matter?
In an effort to expedite swift resolutions, these matters are typically resolved via telephone calls and/or email followed by a signed written agreement which will be submitted to the Judge. All agreements must be in writing signed by the Receiver and defendant. While our office is not open to the public, you can contact the Court to schedule a time with the Judge to meet in the courtroom.
Why is this Judgment against me if I never had an account with the Plaintiff?
If you do not recognize the plaintiff name on the Judgment against you, it is possible the debt or Judgment arising from the debt was transferred to another entity that now appears as the plaintiff.
Why is this happening now when I owed the debt many years ago?
Generally, in Texas, a creditor has four years to bring a lawsuit on a debt. Once a judgment is obtained on the debt, the judgment is good for 10 years and can be renewed for additional 10-year periods.
Should I contact the Plaintiff to work this out?
Once a Judgment is in a receivership, all defendants’ nonexempt property is held by the Court in custodia legis (the custody of the law). The Receiver is the agent of the Court during the Receivership and will be responsible for creating a resolution to the receivership.
Have a question we can answer for you? Contact us by phone at 214.220.2022 or email by using the form below.