Quoted from wdpvideo:
How do you collect? When you look at his overall assets it's not liquid. And we all know or at least we should liquid is king!
I would assume he had something to lose since he spent money to defend himself in court. Unless he just did it out of trying to prove his innocence and satisfy his ego by winning? Or just take a default judgment.
Now you have to go find the "liquid" unprotected assets (non iras, 401k's, homestead, etc.), if they exist. Maybe through discovery they were able to see his tax returns which would show 1099's from interest, dividends, capital gains etc. So if he had an account at Vanguard for example (non ira), you would alert Vanguard of the judgment and they would be required to satisfy the judgment
Has he transferred/hidden assets (fraudulently or otherwise) during the process? Probably. Does his wife have separate property assets and are they attachable?
Collecting it may end up being very difficult or impossible but it will be sitting there on his back for a LONG time to come. And its a big badge of dishonor and huge blow to his massive EGO!
The credit bureaus can pick it up as well as another crushing blow.
Anyhow, he wakes up today with that legal albatross hanging around his neck, and that's a great thing!