Within the previous two years, the attorneys at Padfield & Stout, L.L.P. have been employed in the recovery of over three hundred pieces of collateral through sequestrations/replevins. The firm’s success has been outstanding, with the recovery of approximately 85% of vehicles or equipment within thirty days of receipt of the file, and 95% within sixty days.
The firm’s success is due in part to its policy to file the case within one week of receipt and in part to its excellent relationships with the various Sheriffs and Constables
in all 254 counties throughout Texas. Additionally, the firm is authorized to issue bonds throughout the United States through the Hartford Casualty Insurance Company for all litigation purposes at the cost of 1% of the face amount of the bond.
Our Services Include:
Prepare Petition, Writ of Sequestration and Court Documents:
Upon receipt of the required documentation, our office will prepare the documents listed below:
- Plaintiff’s Original Petition;
- Plaintiff’s Application and Affidavit for Writ of Sequestration;
- Order Granting Writ of Sequestration; and
Bond for Sequestration
Bond documents may be prepared and forwarded to client’s surety for execution or prepared for Travelers Casualty and Insurance Company of America as surety, which may be immediately executed by our office (cost 1% of face amount of bond which is typically the fair market value of your collateral). Suit is filed within one week of receipt of requisite documents.
Once all documentation has been prepared and filed, an attorney will make the requisite court appearance to obtain an Order Granting Writ of Sequestration and approval of the requisite Sequestration Bond.
Once the court issues an Order Granting Writ of Sequestration, the clerk’s office will prepare and issue the Writ and forward all service papers to the Sheriff/Constable for service on Defendant and seizure of the collateral. We will stay in regular contact with the Sheriff/Constable’s Office up through the recovery of the collateral. Once the collateral is recovered by the Sheriff/Constable, it must be held for ten (10) days. On the 11th day, your repossession agent may obtain possession of the collateral from the Sheriff/Constable, after payment of any storage charges. Upon entry of Final Judgment, your collateral may be sold.
- Thirty days after the Judgment has been signed, our office will:
- Prepare and serve on Defendant at the last known address, Interrogatories in Aid of Judgment;
- Request the court clerk to prepare an Abstract of Judgment including a credit to the judgment for the net sales proceeds from the sale of the collateral and any canceled products such as credit life insurance and warranties; and
- Record the Abstract of Judgment in the county of Defendant’s last known mailing address.