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Congratulation! You have won a court judgment that the debtor owes you money. But, how do you collect? It may be easier than you realize. The National Judgment Recovery Center’s practice divides the collection process into the following steps: · Abstract the judgment · Research contact data for each of the debtors in the judgment · Research assets owned by each of the debtors · Research debts and liens against Continue Reading;
Yes and no. The court can help to collect your judgment. However, the court will not proactively take action to collect your judgment for you. As the winner in court and holder of the judgment, you must find a means for the debtor to pay you and then the court will help to enforce your collection effort. Debt collection horror stories refer to lenders using drastic “mafia-like” henchmen to enforce Continue Reading;
Companies who buy judgments, and pay you cash today, are limited in number. However, there are hundreds if not thousands of companies who will “purchase” your judgment on a “future pay” basis. In a true judgment sale, you get paid in cash when you assign the judgment. In a “future pay” sale or assignment, you do not get paid when you assign the judgment. Companies who purchase judgments for cash Continue Reading;
A court judgment is an official pronouncement of a court of law. Judgments are issued by many types of courts, and for many types of issues. A court judgment is not an order compelling a party to act. It is the courts decision regarding factual information, statutes and legal precedence. Courts have different names in various states and countries.
Selling your judgment is an option worth considering. Regrettable, about 80% of court judgments are never collected. Reasons for the low collection rate include the skillfulness of sneaky debtors who are professionals at not paying, and the competing and productive tasks facing citizens and business people.