How do I collect money from someone with little or no money and assets?
There’s no good answer to that.
Someone with little income and no assets is “Judgment Proof”.
Even if you win against them in court, you lose.
You spent time and money to sue, but get nothing in return.
However, this may not always be the case.
Someone who is judgment-proof may not stay that way forever.
This means you don’t have to sue immediately.
But there is a statute of limitations or time limit to sue someone.
It can be 1 to 6 years depending on your state’s laws.
You can sue any time during that period, but not after.
You should consult an attorney right away if you think you have grounds to sue.
Do this even if you don’t think you want to sue yet.
An attorney would know if your complaint is within the statute of limitations.
If you sue and win, there’s also a statute of limitations on enforcing the judgment.
Depending on the Laws in your state, the limitation could be 5 to 20 years.
It may make sense to wait to see someone who is in financial distress.
It may be worth your while to wait until they’re on their feet and can pay.