How To Recover More Than Your Judgment

When you won your judgment, your first thought was perhaps something similar to "I want to recover the most that possible from that scoundrel". Your next thought may have been "How can I collect my judgment?" You might even have wished that you could collect more money than what the law requires, because that bum defrauded you.

Unfortunately, the law does not permit you to collect above what's owed on a judgment, which is some of the original amount of the judgment, the interest earned, and any court related collection costs which were documented and approved by a court.

Sometimes your judgment debtor ripped off other creditors also, and a few other people or entities might also have judgments against them. When your judgment debtor has money, and you are persistent enough to satisfy your own judgments, why not attempt to recover the judgments other creditors have against the same debtor?

The vast majority of judgments are not recovered, so maybe after you learn the way to enforce your own judgments, you might enforce judgments for some other creditors of your judgment debtor. Professional judgment enforcers do that all the time, they look for more judgments against the same judgment debtor.

Once you have had the expense and hassle of finding your debtor's location and assets, you could use your knowledge, to enforce other judgments that your judgment debtor owes to other people.

At the same court you received the judgment at, or with some other information system, you may find other enforceable judgments which your judgment debtor owes. Then you could contact some other judgment creditors and offer to buy their judgments. If the judgment owners have a realistic interest in recovering any cash from their judgments, then you could make the judgment owners an offer, to buy their judgments.

What you should offer and pay the other judgment owners is your decision. Some states only allow outright cash upfront judgment sales. The average price paid is 50% of the amount you recover, after you enforce it, on a future-payment basis; or a small percentage of the face dollar amount of a judgment (1-8% is the average) for a payment upfront purchase. Do not buy a judgment for too much money cash upfront, for many reasons; including the debtor might run out of money, and if the judgment debtor files for bankruptcy, you most likely won't get a dollar.

When a judgment purchase price is agreed on, then you ask the other judgment owners to sign your judgment purchase agreement, and also a (notarized by them) "Acknowledgement Of Assignment Of Judgment" to transfer their judgment to you. After that, as the new judgment owner, you file the completed Acknowledgement Of Assignment Of Judgment with a court clerk. Then you will own that judgment, allowing you to use the same recovery procedures which worked before on your first judgment.

Before you try to recover judgments for other creditors, make sure doing that is allowed in your state. The opportunity to purchase any judgment and then try to recover it, depends on the pertinent statutes and court rules in the judgment debtor's pertinent jurisdiction and state.

Enforcing again, with the same debtor, allows you to benefit from the first judgment enforcement efforts. One could simply duplicate your work, for any additional judgments that you have purchased for the same judgment debtor. Imagine the joy of not only recovering your own judgment, but also earning more money helping others get back some of what is owed to them by your judgment debtor.

http://www.JudgmentBuy.com - Judgment Enforcement. The easiest, free, best, and fastest chance to get your judgment money. Mark D. Shapiro, the judgment broker. JudgmentBuy has the best free judgment leads for judgment enforcers, judgment buyers, and contingency collection attorneys.

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