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How Can I Collect My Judgment





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I am a judgment referral expert, and not a lawyer. This article is my opinion, and is not legal advice. When you ever want legal advice or a strategy to use, you should contact an attorney.

After winning the judgment, the first thought you had was probably something similar to "I want to recover the most that I can from that louse". A next thought may have been "How can I recover this judgment?" You might even have wondered if it was possible to collect more than what the law requires, as that bum ripped you off.

Unfortunately, the law does not permit one to recover more than what is owed on a judgment, which is some of the face amount of the judgment, the accrued interest, and most court-related recovery expenses which were documented and approved by a court.

Sometimes your judgment debtor burned other people too, and some other entities or people may also have judgments on your debtor. If your judgment debtor has money, and you are persistent enough to recover your own judgment, perhaps you could try to enforce the judgments other creditors have on the original judgment debtor?

Most judgments are never collected, and perhaps after you learn how to recover your own judgment, you might enforce judgments for certain other creditors of your judgment debtor. Experienced judgment enforcers do that all the time, they try to find more judgments for the same debtor.

Once you have had the expense and hassle of discovering your debtor's location and assets, you can use your information, to recover other judgment debts which your judgment debtor owes to other people.

At the same court you received the judgment at, or with some other information service, you can find other enforceable judgments which your judgment debtor owes. Then you can contact some other judgment owners and offer to purchase their judgment. If the creditors have any interest in getting some cash from their judgment, then you can make the judgment owners an offer, to purchase their judgments.

How much to offer and pay the other judgment creditors is up to you. Some states only allow outright cash upfront sales of judgments. A typical purchase price is 50% of the amount you recover, after you recover it, on a future pay basis; or a tiny fraction of the face value of a judgment (1-8% is an average) with a payment up-front purchase. Do not buy a judgment for too much money cash upfront, for many reasons; such as the debtor may run out of money, and if they apply for bankruptcy, you probably won't get a dime.

After a judgment purchase price is agreed to, then you get the other judgment creditors to sign your purchase contract, and also a (notarized by them) "Acknowledgement Of Assignment Of Judgment" to transfer their judgment to you. Then, as the new owner of the judgment, you file your completed Acknowledgement Of Assignment Of Judgment with a court clerk. Then you'll own the judgment, enabling you to use the same enforcement strategies that you used for the first judgment.

Before you attempt to enforce judgments for other creditors, be sure doing that is allowed in your state. The ability to buy any judgment and then attempt to enforce it, depends on the particular statutes and court rules in the debtor's particular state and jurisdiction.

Enforcing again, against the same judgment debtor, allows you to benefit from the first judgment enforcement efforts. You can simply duplicate your work, for any additional judgments that you have purchased against the same debtor. Imagine your happiness of not only recovering your own judgment, but also making additional money helping others recover what is owed to them from the debtor.


About Author Mark Shapiro :

<a href="http://www.JudgmentBuy.com" target="_blank">http://www.JudgmentBuy.com</a> - Judgment Enforcement. The free, easiest, fastest, and best chance to recover some judgment money. &nbsp; Mark D. Shapiro, the judgment matchmaker. JudgmentBuy has the best free judgment referral leads for enforcers, judgment buyers, and contingency collection attorneys.


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Article Added on Wednesday, April 17, 2013
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