Judgment Collection Services Provide Assistance with Stubborn Debtors
It frequently comes as a surprise to people when no money is received after they have won a judgment. Awarded amounts and the actual total of funds collected are often very different. It may even cost the business or individual more money and time to collect on a judgment than it did to win their initial case. It is frustrating because it is a situation that can stretch out for years and lower business profits and damage personal finances. There are answers and methods like contacting judgment collection services may not ensure every cent is collected, but it will increase the speed and amount of money that is received.
Talk to Debtors
Start the way professional judgement collection services handle their accounts. Contact the debtor directly. Wait at least 30 days after the original court date to prevent encouraging the debtor to appeal the case. Send a friendly, but insistent letter once the appeals process is expired. Detail the amount owed and offer some flexibility on accepting payments. This is a good method when the debtor is known to not have the assets or the income needed to pay immediately. An aggressive approach could encourage these types of debtors to file bankruptcy.
Use Legal Options
Some people will not pay even when they have the ability. Using the legal system is often the only option when dealing with them. Bank levies, wage garnishments and levies against their property are all potential options. It requires using a local sheriff or levying office to collect the funds. Not all options are legally available in all areas of the country and there are restrictions on how much is allowed to be garnished and what type of income is able to be seized.
Get Some Help
Using a judgment collection services is the solution to choose when people are ready to save time, money and avoid researching what is and is not allowed in each state. These services take on the effort and their professional standing helps to coerce stubborn debtors into paying sooner. The best part is that many will only charge a commission on fees that are collected. This makes it much more cost efficient for business owners with multiple judgments to enforce.
Avoiding a lengthy ordeal without giving up on a legitimate claim may require professional help. The responsibility of the court is to determine when money is owed. After the decision is made they will not review the case automatically to determine if the debt is paid. They do not issue any immediate orders regarding the seizure of money or property. They do not even offer inexperienced debtors any advice about managing collections. It is a process that many people learn about as they work through the system.
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