deficiency judgment

American  

noun

Law.

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

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Example Sentences

In many states the lender can still obtain a “deficiency judgment” against both borrower and cosigner after they sell the car at auction.

From MarketWatch

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