What is an order of examination?
Asked by: Georgette Cassin III | Last update: November 7, 2025Score: 5/5 (16 votes)
Hearing in which a judgment debtor must answer questions about his financial position.
What happens during an examination of the debtor?
At a debtor's examination, the creditor can ask you about your financial situation. You must answer the questions under oath. This means there can be legal penalties if you lie. They can ask things like where you work, what you earn, where you bank, and what property you own.
What is the order to produce statement of assets and to appear for examination?
Fill out the form: SC-134 Order to Produce Statement of Assets and to Appear for Examination. File the form with the clerk's office at the court where your case was heard. Pay the filing fee. The clerk will provide you with copies of the completed form with a hearing date.
What questions do they ask at the debtors exam?
- What's your home address?
- What's your telephone number?
- Are you married or do you have a registered domestic partner? If so, what's the first name, maiden name, and last name of your spouse or domestic partner?
What is the debtor exam in Michigan?
A creditor's examination, sometimes called a debtor examination or deposition in aid of execution, is a legal procedure that occurs during the debt collection process. In Michigan, it is a court-ordered examination that requires a debtor to provide information under oath about their financial situation.
Cross Examination- Legal Procedure in Court to impeach credit of a Witness.
What happens if a defendant does not pay a judgment in Michigan?
If the defendant does not pay the judgment as ordered, you will have to collect your money through an execution against property or a garnishment.
How long can debt collectors try to collect in Michigan?
According to Michigan law, your creditor has up to 6 years (from the date of your last payment) to collect on a debt, including obtaining a judgment on the debt. By getting a judgment, your creditor can pursue collections (likely a garnishment) almost indefinitely as long as they renew the judgment every 10 years.
What is an order for examination?
If you don't pay what the judge said you owe, the other side can ask for a debtor's examination to learn what you own and where you work. They can ask the same about your spouse or registered domestic partner.
What questions do creditors ask?
The trustee can ask you about anything related to your financial situation, and most questions will involve your debts, assets, income, expenses, and, importantly, prior transactions. The trustee will be looking for information that could increase recovery for your creditors.
What is the interview question for debt collection?
- Tell me about a time you dealt with an angry customer. What did you do?
- Describe a time you felt good about your job as a debt collector.
- Recall a time you had difficulties in negotiating with a debtor/customer. How did you manage?
- Tell me about a time you were very stressed in your job.
What is the order for assets?
Explanation: The common order where current assets that appear on the balance sheet are cash (petty cash, cash, and checking accounts), short-term investments, prepaid expenses, supplies, inventories, accounts receivables, and marketable securities.
What happens after notice of entry of judgment?
The Notice of Entry of Judgment (SC-130) is a court form that states the judge's decision. This form also tells you about your rights and lists the date the form was mailed to you. This date is very important. You have only 30 days from this date to file a motion to vacate the judgment or appeal the judge's decision.
In what order are statements prepared?
- Income Statement.
- Statement of Retained Earnings – also called Statement of Owners' Equity.
- The Balance Sheet.
- The Statement of Cash Flows.
What happens if a debtor fails to pay?
If you do not pay or fill out and mail the Statement to the judgment creditor, you might be in contempt and be sanctioned by the court. This means a warrant for your arrest may be issued and you may have to pay penalties and attorney's fees.
What happens when a debtor receives a discharge order?
What is a discharge in bankruptcy? A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.
What is a pocket judgment?
A quick definition of pocket judgment:
Pocket judgment is an old law that helped people get their money back if someone owed them a debt. It was a special kind of bond that the debtor had to sign, promising to pay back the money.
What should you not say to a creditor?
You never want to give the debt collector personal information about your finances and assets, such as your Social Security number, your bank account number unless making a payment, your income, or the value of your assets.
Do creditors watch your bank account?
In some cases, creditors can subpoena your employer for information about direct deposits. Once they identify a bank account, creditors can seek a court order to freeze or garnish it. However, state law provides certain exemptions that may protect some or all of your bank funds from seizure.
Should I be nervous about a 341 meeting?
Feeling anxious after the 341 meeting is common, especially if you're unsure what will happen next. Many people worry that they may have forgotten an important document or that the trustee or creditors will find an issue with their filing. However, this anxiety is often unfounded.
What is taking an examination?
An exam is a formal test that you take to show your knowledge or ability in a particular subject, or to obtain a qualification.
What happens after examination in court?
Once the direct examination is finished, the defendant's attorney gets an opportunity to question the witness. This is called cross examination. When the cross examination is complete, the judge may allow the plaintiff to ask more questions in response to things mentioned during cross examination.
What is an examination period?
What is an exam period? An exam period is the time during your studies when you sit exams. Exam periods happen every semester and are generally not too popular with most students.
What is exempt from debt collection in Michigan?
-- Generally, exempt from garnishment money that a debtor received due to public assistance benefits, unemployment compensation benefits, earned income tax credits, disability benefits, or worker's compensation benefits.
What happens if you ignore debt collectors forever?
Ignoring a lawsuit over a delinquent debt puts your wages, bank account or property at risk. Worse, you can also lose the ability to dispute that you owe the debt.