|
When you get ripped off and have to sue somebody, that is only half the work. Judgments don't recover themselves, and your court won't help you recover your judgment. Most often, a judgment is only pieces of paper with an imaginary value. If you used a lawyer to win the judgment, usually recovering judgments isn't their specialty. If you retained an attorney to get your lawsuit, you may owe them a bunch of money to get your fancy piece of paper. With very few exceptions, it costs lots of time and money to collect a judgment. The person or entity owing the money is the judgment debtor, the one owed the money is the judgment creditor. The statutes related to judgment collection are different in every state. Judgments usually earn interest, usually 2 to 12% per year, and last for a certain number of years, usually 4 to 10 years. Most folks don't understand how difficult it is to recover most judgments. More than ninety percent of judgments are not ever recovered. Judgments do not sell for very much cash up-front, an average selling price is about one to seven percent. Anybody that claims they will pay 50% cash upfront for judgments, or guarantees a fast judgment collection in full, is telling you a lie. This article is my opinion and is not, legal advice. I am a judgment referral professional, and not an attorney. If you ever need a strategy to use or legal advice, you should retain a lawyer. If you're thinking about suing somebody, it makes sense to first hire a private investigator to determine if they possess any assets, and (especially when suing a company) take care to properly identify who should be named on the lawsuit. The techniques of recovering judgments aren't guaranteed, and bankruptcy can kill most judgments. One technique used for judgment collection is to record liens on a debtor's real estate. Another method is getting a Writ from the court to have a Marshall or Sheriff levy a debtor's property to sell at auction. Another method is to have the Marshall levy a debtor's money from their bank, or attach their other income streams or wages. Judgment recovery most often takes a long time, even more time now because of financial restrictions at Sheriff's offices and courts. Some other issues with judgment collection are debtors often attempt to conceal assets, the laws offer debtors exemptions, it's costly to try to unravel Fraudulent Transfers (note that Fraudulent Transfer time limits are very short), everything must be done using the Sheriff and courts, and judgment recovery-related forms are complicated. To try to request money from your judgment, you can try to collect it yourself, hire an attorney, attempt to sell it for cash upfront (for a really sharp discount), or find a future-payment contingency collection expert. The word contingency is starting to be shunned by non-lawyer collection experts. However, future-pay and contingency recovery usually mean the same thing; most often you pay nothing out of pocket, and get an average of 50% of whatever may get recovered. Have your judgment collected for the best realistic price: http://www.JudgmentBuy.com - Judgment Recovery. The free, easiest, best and fastest way to start getting some money back from recoverable judgments. (Mark D. Shapiro 408-840-4610) JudgmentBuy offers you the truth.
Related Articles -
judgment collection, judgment collector, collection of judgments, collecting a judgment, judgments collected, judgment collections, Collecting Judgments,
|
