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At my job, many times every day, judgment owners ask questions of me such as this: 1) How long does it take for you to hook me up with a judgment enforcer or buyer? 2) How long does it take to be recovered? 3) What could I sell this judgment for right now? 4) What are the odds for my judgment getting collected? 5) How much will I need to give up, to have my judgment recovered? My first answer starts with: It all depends on your judgment debtor. When your judgment debtor is wealthy, it's all good; when your judgment debtor is poor, it's all bad news. Although my answer always begins with "It depends on the judgment debtor", all too often, I quickly learn the beliefs or attitudes of some judgment creditors, are likely to stop the judgments from ever being recovered. My articles are my opinions and are not, legal advice. I am a judgment referral expert, and not a lawyer. When you ever want legal advice or a strategy to use, please contact an attorney. In my work, I check judgment debtors with records from public data. I also check judgment owners, to weed out those ones that aren't ready to have their judgments recovered. Besides our economy, here are the top 12 reasons judgments do not get collected: 1) The debtor is bankrupt, poor, or dead; as this may make it impossible to collect a judgment. Little fraud judgments, or against dissolved companies, are not cost-effective to enforce. Sometimes the debtor's available assets are shielded by laws to make them off-limits to creditors. 2) Some creditors are looking for someone who will purchase their judgment on the spot, without knowing anything about their debtor. These creditors may not ever get repaid. Creditors needs to understand that a judgment is similar to a previously owned vehicle. A judgment purchaser needs to do some checking, and usually, extensive due-diligence. One wouldn't walk into a used vehicle dealer and accept the car salesperson telling you: "Give me your cash, and then I will give you the vehicle keys. We will not start that vehicle or allow you to drive the vehicle; and do not kick those tires until I get your cash in hand and we have signed our paperwork". How many vehicles would that used car lot sell every year? Most likely none. 3) The judgment owner demands instant results. Nothing in judgment recovery is instant, except for bankruptcy filings. 4) The creditor does not want to split a portion of what funds may be recovered, on a future pay contingency basis. Judgment enforcement is costly and risky. Such creditors will probably not ever be repaid. 5) A creditor insists on using their own contracts. They refuse to use any other contracts, and insist on micromanaging any collection effort. These creditors need to hire their own lawyer. 6) The creditor knows nothing about their judgment debtor. If their judgment debtor is unknown, their judgment will never get collected. 7) The creditor won't return anyone's contracts. Judgment recovery professionals, lawyers, collection companies, and cash up front judgment buyers; all need their documents to be signed and occasionally notarized. 8) The judgment owner is too annoying, threatening, or hostile. The majority of judgment professionals agree that life is not long enough to listen to those kinds. 9) A creditor is cemented in a shopping mode. They begin by believing they will get a better deal when they shop the judgment. It can take some creditors too much time to find out and believe the truth that everything is dependent on their debtor. Some creditors shop their judgments forever, not ever finding "a fair deal" and the judgment may eventually expire. 10) A creditor is in denial, and with magic thoughts, believes those web sites that say: "We buy judgments cash up front for 50% to 75%". My company can sell you a bag of magic beans too. Certain judgment owners go to a "market place" to attempt to find cash upfront buyers, only to eventually find out that usually wastes time, and can't bring them more than 1-7% cash up-front for average judgments. 11) A judgment owner doesn't agree that the value of their judgment is 100% dependent on their judgment debtor. These creditors demand a certain (artificially high) cash upfront price they choose to continue to aim to get. Such creditors ignore the truth that typical judgments are purchased for amounts around 1-7% of a judgment's face value. Certain judgment owners may shop for years and never get a dime. Some judgment owners seem to prefer to let their judgments expire, than to sell them for an actual market price. 12) The creditor wastes a lot of everyone's time sharing lengthy stories about themselves, their situation, how bad their debtor is, the full history of everything before, during, and after their judgment; however the creditor never send a copy of their judgment. Such creditors seem to talk a lot about their judgment, rather than taking action and making their decision. The judgment debtor's situation is something the judgment creditor, or the enforcer of their judgment; could only worsen, which is the opposite of what the smart creditor wants. A smart judgment owner wants their debtor to do very well for at least three months after their judgment is paid completely. Of all the problems that can stop a judgment enforcement mentioned above; notice that 11/12 of the reasons depend on their creditor. Everything should only depend on their debtor. Please visit the constantly improving service at: http://www.JudgmentBuy.com - Judgment Recovery. The free, easiest, fastest, and best way to start getting some money back from enforceable judgments. (Mark Shapiro)
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judgments not enforced, judgments, judgment enforcement, judgment recovery, judgment collection, judgment sales,
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