What if you have an older (eg, 75-year old) judgment debtor? This situation is automatically a challenge, because most of the income and benefits (eg, social security), and even certain assets of older judgment debtors are exempt from creditors. What if your debtor is 75 years old and lives in a house he owns; how could you attempt to recover a judgment in such a situation?
This article is my opinion, and not legal advice. I am a judge solutions expert, and am not a lawyer. If you ever need any legal advice or a strategy to use, please contact a lawyer.
Usually, with older debtors, recovering judgments is a challenge. Laws require you to take every precaution in how you proceed, to protect your debtor's interests until they die.
These days, many older homeowners are not rich, and many are just getting by. While making small payments on a payment plan may work for them, any "both feet" judgment recovery action would probably be too much; and may cause them to file for bankruptcy protection.
If your older judgment debtor owns property, consider recording a property lien because there is a chance that would ever get you paid something from their probate / estate. (Of course, many elder debtors have deeded their property to their youngger relatives to avoid a sale if they need a nursing home or hospice care.)
After your lien is recorded, you could mail them a letter (if it is a consumer-related debt, be aware of FDCPA laws) and ask them if they would consider a payment plan, so you can remove the lien when your jurisdiction is satisfied .
If there is no response to the recorded lien or your letter suggesting a repayment plan, then you could search for their bank account and then attempt to levy it; however often the funds in their account will be exempt from creditor levies. Occidentally, there is sufficient non-exempt funds in a debtor's bank account to pay off your judgment.
Usually, bank levies do not fully satisfy judgments, so besides property liens, bank levies, and voluntary payment plans; what else can you do with an older judgment debtor? The answer depends on their situation and assets. A judgment debtor examination might make sense, and will probably help you decide your possible next step, which might be to give up for now; and wait to see if your lien works someday.
Things to consider include your debtor's health, is there a mortgage on their house, what is the equity situation, is their house insured, how many other judgments do they have against them, their likelihood of going bankrupt, even if they have kids who might help pay the judgment off; and whether they have already, or can get a reverse mortgage on their house. A reverse mortgage can only help a creditor if it provides cash to potentially pay off the judgment.