Learning About Judgment Enforcement
Why you might want to sell court judgment
Many people think that being awarded a court judgment in a lawsuit means you get the money right away. However, it can take awhile to get your judgment money. Also, courts often allow those hit with a judgment to pay it off in installments over time, which means that it could be years before you get the full amount awarded to you. In such a case, you might want to look into how to sell court judgment.
How do you sell a court judgment?
There are companies that will buy court judgments from people. The thing you have to keep in mind is that if you sell court judgment, you will get less money. The companies buying the judgments will not pay you the entire amount, which is how they make money. You can expect to pay anywhere from 25 to 50 percent of the judgment amount to sell it.
Why would you want to sell?
Why would anyone want to give up one-fourth to one-half of their court judgment? In some cases, people may be in dire financial straits and can’t wait months or years to receive their full judgment payout. In such a case, it can be better to get $50,000 now than receive $25,000 year for the next four years. Selling a judgment can also help to initiate closure. Being able to take the money right away and be done with the case can be a lot better than having to drag it out over several years to receive payments.
If you are considering selling a judgment, there are some things you want to keep in mind. For one thing, you want to know exactly how much you are going to have to give up. You also want to make sure the company buying the judgment is taking on all the risk and you can’t later be liable for additional money if the company encounters problems with the defendant against whom you won the judgment.
Selling a court judgment can be the right choice, but you have to make sure you understand what you are giving up.
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