Winning a court judgement is only half the battle, the next battle is to retrieve your money from the debtor. Just because the court signs the document stating that you won, doesn’t mean it’s the end of road. Since collecting judgment is a lot of harder than it looks, here is some advice on selling your roofing contractor judgment.
The Court Has Limitations
The court has limits as to how far it goes to collect money for your judgment. They cannot give you advice on the next steps to take or help you in the process of collecting.
Contractor Judgement Collecting Yourself Is Hard
Doing all of the work to collect a judgment by yourself is always a difficult challenge. Many laws are put in favor of the debtors, not the creditors. A debtor can move without telling anyone and become impossible to track down. In some states, only non-exempt property can be collected but not exempt property. In some cases, the debtor is not employed or does not have enough money to repay the judgement, making it nearly impossible to collect.
You Need Money Right Away
Selling your judgment for cash is recommended when you need money right away. However, there are some scam deals to be careful of when you review buyers. Do your research to decide which buyer to work with and which rates are fair to you and your efforts.
Selling May Be the Only Option
Trying to enforce the law could turn into a nightmare experience, even if you are a lawyer. You may need to pay more lawyers, private detectives, sheriffs and process servers. Your best option may be to contact a contingency buyer who specializes in buying roofing contractor judgments.