In the olden days, before 2004 or so, you could do quite well just recording liens on the debtor's real estate. When houses were being refinanced or sold every year and prices were increasing, judgment liens were paid off. These days, a judgment lien is more likely to be stripped off in a bankruptcy court or settled for pennies on the dollar, than to be paid in full.
Yet, most people still have jobs, some own a home with equity, and many have savings or checking accounts. So the business is not over, but it is no longer a make-a-living-quickly business. It never was a get-rich-quick business.
Many who go into the judgment recovery business do not succeed because they rarely go to court or have sufficient funding. They get a computer, a phone line, a web site, attract and screen judgments, and then do very little with them. One needs to have the money - an average of $250 for small claims and $1,100 for civil court, for each judgment they hope to recover.
A $200,000.00 judgment is not going to make you $100,000.00, unless the debtor is wealthy and you learn how to perform advanced enforcement procedures that take knowledge, practice, and skill to perfect - to the point where you are effective against a rich judgment debtor that hires a lawyer to thwart ones enforcement efforts.
You need to read, study, and go to court and get comfortable and competent on all court procedures and paperwork. Judgment recovery is a business where you are always working and learning. One cannot just read one book and get instant success.
So, is 2011 a great time to get into the judgment enforcement business? Here are five reasons why not:
1) The easy money is gone. One must work for every dollar.
2) The economy is really bad, most debtors are poor and one cannot recover a judgment against a poor person.
3) Courts and sheriffs are scaling back, increasing fees, and getting very slow to process paperwork.
4) Most of the good judgments are gone.
5) There is apathy, skepticalness, and flakiness washing over many people who are glued to watching and reading terrible news, and tuning out of opening any mail besides their bills.
Here are 5 reasons why 2011 is a great time to start or be in the judgment enforcement business:
1) There are not many businesses with more opportunity and less startup costs than judgment recovery. The judgment enforcement business is no worse than any other economy-related business.
2) Some judgment enforcers are currently "burned out" or depressed or jaded or flaking out, and do not quickly answer or return emails or phone calls. By being responsive, one can rise ahead.
3) With many judgment enforcers going out of business, it is possible to find used books and training courses at steep discounts. And now, there are free resources on the web to learn about judgment enforcement.
4) There are more options now than before. Now, you can easily refer judgments not right for you to a judgment broker.
5) The best people have the right attitude to make things work even when the economy is bad. If you have nothing better to do, learning judgment enforcement, or how to find and screen judgment leads, is a constructive and potentially profitable thing to learn.
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Mark Shapiro - Judgment Broker - Free leads for Judgment Enforcers and contingency collection attorneys.
http://www.JudgmentBuy.com - is the best judgment solution, where Judgments quickly get Purchased or Enforced by the best!
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