Two Effective Strategies For Collecting on a Judgment

Winning a judgment in court can be a satisfying experience, but only if you actually collect on it. It’s an unfortunate statistic that about 80% of money judgments are never collected, due to a variety of reasons. The debtor may not have any money or assets or they may be difficult to track down.

Another factor to keep in mind is that judgments have an expiration date. The statute of limitations on judgments varies from state to state, but if you don’t collect by a certain date, you are out of luck. What, then is the best course of action if you’ve won a judgment but you haven’t seen the money? Let’s look at two strategies -if the first doesn’t work for you, the second one might come through.

Sell Your Judgment

Selling your judgment is a fairly new possibility, at least for the average person. While large companies have often sold judgments to other large companies that deal with this type of transaction, most people have not had access to this option. Now, however, Judgment Marketplace makes it possible for anyone to put up their judgment for sale.

You can put your judgment up for auction on Judgment Marketplace. As with any online auction, you can set a reserve price and Buy Now price if you choose. This ensures that you are in control of the process and that you won’t have to settle for a price that’s too low. You can also decide on the duration of the auction. This gives you the possibility of selling your judgment within days or weeks from now.

There is, however, always the possibility that you won’t find a buyer for your judgment. What should you do then?

Find an Attorney

If you can’t sell your judgment, you can always enlist the help of an attorney. This is a good option if your judgment is sizable enough to make it worth the attorney’s time to make efforts at collecting. You should look for an attorney who is willing to do this for a percentage of the judgment when it’s collected. This way you won’t have to pay any up front fees.

As long as the debtor has the assets to pay the judgment, this is a viable strategy. The same people who might ignore the requests of an average citizen may respond positively to an attorney. Attorneys are also knowledgeable about what is and isn’t legal when it comes to collecting debts.

The problem of being unable to collect on judgments is widespread. The above, however, are two options that can help you sell or collect on your judgment in a reasonable amount of time.

 

Comments

Add A Comment

Member Comment Date Added
wcjg99 In some instances it is quite difficult to collect against an elusive debtor. Our firm uses proprietary means to locate debtors and their sources of income, etc. www.wcjudgmentgroup.com 03/11/2015 at 07:03 AM
wcjg99 In some instances it is quite difficult to collect against an elusive debtor. Our firm uses proprietary means to locate debtors and their sources of income, etc. www.wcjudgmentgroup.com 03/11/2015 at 07:03 AM
wcjg99 In some instances it is quite difficult to collect against an elusive debtor. Our firm uses proprietary means to locate debtors and their sources of income, etc. www.wcjudgmentgroup.com 03/11/2015 at 07:03 AM
wcjg99 In some instances it is quite difficult to collect against an elusive debtor. Our firm uses proprietary means to locate debtors and their sources of income, etc. www.wcjudgmentgroup.com 03/11/2015 at 07:03 AM
wcjg99 In some instances it is quite difficult to collect against an elusive debtor. Our firm uses proprietary means to locate debtors and their sources of income, etc. www.wcjudgmentgroup.com 03/11/2015 at 07:03 AM
wcjg99 In some instances it is quite difficult to collect against an elusive debtor. Our firm uses proprietary means to locate debtors and their sources of income, etc. www.wcjudgmentgroup.com 03/11/2015 at 07:03 AM