deficiency judgment

noun

, Law.

1. a judgment in favor of a creditor who has not satisfied the full amount of a claim against a debtor.

Example Sentences

In 2013, a Florida state court entered a Deficiency Judgment against Barber and Blaker Enterprises LLC in excess of $62 million in favor of Wells Fargo and Regions.

From Forbes

Ultimately, the Plaintiffs were able to reach an agreement with StoreSmart and Susan, whereby a deficiency judgment of $2.3 million was entered against the latter defendants.

From Forbes

His deficiency judgment is $92,466.

From New York Times

They chose the latter, which ruined their credit and got them a deficiency judgment.

From Washington Post

Using a legal tool known as a "deficiency judgment," lenders can ensure that borrowers are haunted by these zombie-like debts for years, and sometimes decades, to come.

From Reuters