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I am not an attorney, I am a judgment broker. This article is my opinion, and not legal advice, based on my California experiences. Laws are different in each state. If you ever want a strategy to use or legal advice, please contact a lawyer. When one is new to the judgment recovery business, they tend to take every judgment shown to them. Some new in a business, is that even if they do not currently know how to, or have the resources, enforce a judgment, they take assignment of it anyway. This way, they can work on it whenever they are someday ready, and maybe also so that nobody else can get it. Once one has gotten some experiences, spending several days answering calls and emails from Original Judgment Creditors (OJCs) asking "what is happening with my judgment?", you become more picky about which judgments you will accept. Some enforcers have turned into cash up front judgment buyers, mostly to avoid OJCs who contact them too often. Theoretically, you should only take judgments if you have some confidence that a judgment could be recovered within a year. That is up to 6 months to find and have the debtor assets levied, then waiting up to six more months for a Sheriff to mail you a check. When you are assigned a judgment, and you haven't any clear-cut path to recovering it, you should let the OJC know the reasons, and that this judgment is one that you will check every six months. If they strongly complain, think about returning the judgment. In my opinion, there is not much current or future value in being assigned a judgment that you can't recover. These are a few guidelines on if one should take on or keep a judgment: 1) Is the OJC reasonable? Do they object to your rates, do they want to make unreasonable modifications to your paperwork? Are they strongly hinting they will become a headache in the future? Then do not accept their judgment. 2) Is the judgment debtor too distant from you? It's most often best not to take judgments if the debtor or the court that issued the judgment, is farther away than one can easily fly or drive to. 3) Does the debtor have any assets available and showing? If not, keep in mind that it is hard to collect what's not there. 4) Do you have sufficient resources (contacts, experience, time, and cash) to do and pay for what is needed to recover the judgment? 5) Does your judgment debtor have an ok credit score? Certain judgment enforcers get judgments assigned to them (which makes them the legal owner of the judgment), and then run a credit report on the judgment debtors, prior to filing the assignment with the court. If the debtor's credit report is awful, they don't file the assignment with the court, and return the judgment to the OJC. If you choose not to take a judgment, simply tell your logic to the OJC. Give the OJC the real story, to minimize the chances of them wasting people's time by bouncing their judgment off many other judgment recovery specialists. Better yet, make income and help OJCs, by referring them to a judgment broker. http://www.JudgmentBuy.com - Judgment Enforcement. Nationwide judgment referrals. The easiest, fastest, and best way to get the most money for a judgment. Mark D. Shapiro, an expert on judgments. We pay for leads, and have the best no obligation free judgment referral leads for collection agencies, enforcers, and contingency collection attorneys.
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