Copyright (c) 2012 Derek Gray
There are many reasons to want to get a judgment using the court system. This can be a demanding and hassle-filled series of legal procedures. There is paperwork to complete, claims to make, expenses to pay, and arguments to be made. The judgment debtor defendant needs to be served, and this can be difficult, and even if you can serve them, success is not guaranteed. And, if you believe the money owed to you will soon come, you might be in for a surprise.
Many people, families and businesses seeking a court judgment, have done so because they have either received dodgy goods or services or even no services for payments that have been made. Some are seeking to recover credit, loans and money that is owed for a service. Sometimes the reason to seek a court judgment is because of poor workmanship by rogue vendors such as builders, plumbers and electricians.
Once you have your judgment, you must work out how to get your money. The government or court will not help you recover your money, it is now up to you to figure out how to get the judgment debtor to pay up. If such a company or person is ruthless enough to fool other people out of their money by doing a crummy job or by not paying for goods or services rendered, then they're not likely to pay you, simply because you got your judgment.
Many people having judgments are not in a financial position where it is convenient or easy to wait for the money from their judgment to be paid. However, usually judgment owners must wait forever. The choice or time to wait is not up to the judgment judgment owner, it depends on the assets of the judgment debtor.
Few judgment are ever recovered and the judgment owner's money never returns. If a crook defrauds them, after losing money in the scam, any attempts to collect the judgment costs more. When the judgment owner retains a lawyer, they need to spend money to win their lawsuit, then even more money to attempt to collect the judgment.
Many with a judgment cannot afford to pay an attorney to pursue the debtors for the money due. You can attempt to sell your judgment, however buyers only purchase judgments for a penny on the dollar, unless the judgment debtors are wealthy. One can find a contingency recovery solution, however that often involves assigning your judgment. Without a referral from a judgment broker, assigning judgments may be risky and a hassle, because so many judgment recovery people leaving the business.
Naturally, it is important for any collection company to assess the potential worth of your judgment, to decide if it is worth trying to recover. Judgment brokers know a large number of expert collection and judgment buying professionals. For free, judgment brokers (a good one is JudgmentBuy) match judgments with recovery experts to increase the chances for getting back some money. If you want the best chance at recovering your judgment money, begin using a judgment broker.
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