You’ve taken the time and energy to go to court because of an individual who owes you money, and now you just want to collect what is rightfully owed to you without a hassle. If you have tried everything you can think of to collect money that is legally owed to you with no results, our judgement collection agency can help. If you have asked yourself the question, “how can I sell my judgement?” more than once, read on to find out more about our services.
Who are the Judgement Creditors?
A judgement creditor is a person who owes money to another individual who took them to court over unsettled debts. While the courts and the appointed judge can declare that the creditor owes a specific amount of money to the debtor, they do not actually collect the money for the individual. However, jail sentences may occur if the creditor has signed a statement promising to repay the money, although this will force the debtor to spend even more time in court.
Types of Payment Plans
Before taking the individual back to court for money owed, you may be able to have their wages garnished legally. This will allow you to obtain the money owed to you directly from their employer before the person ever receives it on their paycheck. This is a safe way to acquire your cash as you will not even have to see the other party to negotiate the terms. Every state has different laws regarding wage garnishment, so research thoroughly before choosing this option.
You may also wish to send a certified letter to the debtor as soon as you are awarded the settlement from the courts. By sending a certified letter you will know for certain that the individual received the information. Be sure to include clear-cut instructions on how and where to send the money that is owed to you.
If All Else Fails, Call Us
You’ve tried to collect on your own and are now looking for the answer to the question of “How can I sell my judgement?” We can help. Get a free quote today by calling us at 1-900-500-4345. We’ll help you get the settlement that you are due.
The concept of judgment recovery is a process where you, the owner of a judgment, deserves to be paid by the person who the courts say owe money for a judgment placed against them. Whether you obtained this judgment from winning a court case or from purchasing a judgment owed to another individual is of little consequence. In the eyes of the law, whoever owns the judgment has the right to collect on that judgment. For this reason, purchasing other people’s unpaid judgments for pennies on the dollar can turn out to be a very lucrative investment for making future earnings. This is only true if you take the necessary steps to recover the money owed on the judgments in your possession.
Judgments as a Lien
When a judgment is recorded against the title of a person’s property, there is a good incentive for that individual to pay off the judgment. The first order of business, when it comes to collection efforts, is to make sure you record the judgment as a lien against the title of the property of the person who owes you the judgment.
This gives you, the judgment holder, a lot of leverage to start applying pressure to the person who owes you money under the dictates of the judgment in question.
A Cloudy Title Gets You Paid
Every three to five years on average, people have a tendency to either move or refinance their homes. When they go to sell or refinance a home loan, this means that a title company is going to have to go through and check for clouds on the homeowner’s title. If the title company finds your judgment recorded against their client’s title, the client will first have to pay to clear the title before they will be able to either sell their home or refinance the loan on their home. Either way, this is a huge barrier in their way that helps to ensure that you will be paid on the judgment. So, in many cases, using the collection process as a method of investing to earn future income is itself a simple matter of waiting, because the regularity at which people try to sell homes and refinance home loans works out in favor of judgment holders.
Another way to pad your future investment income with judgment recovery efforts is to simply buy judgments for a low cost, and then sell them for a higher price to other people interested in buying judgments. This is a great tactic for someone who is able to pick up large numbers of unpaid judgments from businesses like contractors and such. Often when you buy in bulk, you can get these judgments so cheaply that flipping them for a little more than you paid later is both easy and lucrative. When people think of judgment collections, they imagine they should only be paid off by the person who owes them money for the judgment; but, why wait for that to happen when there are many investors willing to help you with your judgment recovery efforts by purchasing the judgment from you instead. As long as you realize a profit, what difference does it make?