A judgment creditor is an individual or business legally entitled to collect a debt following a court ruling in their favor. The creditor can use judicial proceedings to collect, too, including garnishing or seizing property like wages, bank deposits, and valuable personal belongings (i.e. cars or antiques).
The party responsible for paying the debt is a judgment debtor. If a debtor files for bankruptcy, their loans, credit card bills, and other personal liabilities may be dismissed in the process. However, if a judgment creditor already issued a lien against the debtor’s property, bankruptcy will not automatically remove it.
Finally, there is property each state considers exempt from creditors. Examples are clothes, furniture, retirement plans, and small amounts of equity in your car or home.