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Receivership

Appointment of a receiver is a traditional remedy available to creditors attempting to collect judgments. An individual, called a receiver (much like a bankruptcy trustee), is appointed by the court that entered the judgment to take control of all the debtor's nonexempt property. The receiver's job is to sell the property and pay the proceeds to the creditors.

SIDEBAR: A receiver can also be appointed during pending litigation, before a judgment is entered, in order to prevent the debtor from wasting or transferring it.