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I'm not an attorney, I am a judgment broker. This article is my opinion. If you ever want legal advice or a strategy to use, you should contact a lawyer. When you have a judgment, the judgment debtor will not pay you willingly. Many people don't want to think or read too much about their judgment. Many judgment owners only want an instant quote from someone that will buy their judgment immediately. Unfortunately, that is not how finding a judgment quote actually works, unless one sells their judgment for under one cent on the dollar. Anyone who purchases judgments must spend money and time, and take some financial risks, to try to recover money from it. In this article, "buyer" means an expert qualified to quote and estimate a judgment's approximate value, that might be a judgment investor, buyer, collection lawyer, recovery specialist, or a collection company. Only a qualified judgment buyer can estimate and quote a judgment's real worth, which is mostly an estimate of both risks, and what could be available to levy from what the debtor owns, to satisfy the judgment. To get a price quote on the cash up front purchase of a judgment, you must have a copy of the judgment, and what you know about the judgment debtor and their assets. While a judgment debtor is unknown and/or has no assets, the worth of a judgment is about zero. An example of an unknown debtor might be one with the name of (e.g.) Bill Smith, served with a lawsuit at a temporary location, not tied to anyone named Bill Jones. One example of a judgment debtor with no assets might be one who has successfully filed for bankruptcy protection, or that hasn't any attachable assets or income. Presuming your judgment debtor has some assets and is known, the judgment has some value. With a cash up front sale, a buyer assumes all risks, so the price paid is always a tiny fraction of the nominal judgment face value. If one sells judgments, there always is paperwork which often must get notarized. Their paperwork includes both a contract and either a lawyer's or an agency's retainer form, or an assignment of judgment form. Before the buyer's contract gets returned to a judgment owner, they need to approximate and calculate value of a judgment, including in most known and some unknown risks. Most judgments have worth, but a judgment's worth isn't insurable, not guaranteed, and is unknown, except during the time period near an estimate from qualified buyers. Even if judgments were guaranteed, they could never get sold cash up front at anything close to their face value due to the time value of money. $100 now is infinitely more important than $100 10 years from now. Getting a tooth pulled twenty years later is more appealing than having your tooth pulled now. Judgments pay over time, if they pay at all. Approximately 85% of a judgment's value is mostly a prediction of what a debtor might be able to repay from their available assets now, and 15% on what the judgment debtor might be able to pay in the future. With today's economic situation, the value of judgments relies 85% on "now". Now lasts a very short time, and most futures change quickly. The price you are quoted for a judgment depends somewhat on the location of your debtor, because that affects how the judgment might be recovered. The value of a judgment doesn't depend on your buyer or you, so shopping a judgment isn't important, or at least not as important as shopping for anything else. Shopping your judgment is much like shopping a $100 bill. The price will stay near $100, no matter what buyer you offer your hundred dollar bill to. One option is to send your judgment to one to 5 judgment buyers. Another option is to send the judgment to just one judgment broker. Sending your judgment to more than 5 judgment buyers is a waste of their time and yours. http://www.JudgmentBuy.com - Judgment Enforcement - where Judgments and debts quickly get enforced by the best - expertly matched for free, to your debtor. Mark D. Shapiro, a judgment expert. I pay for leads, and have the best no obligation free leads for enforcers, collection agencies, and contingency collection lawyers.
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