Sunday, October 14, 2012

The Economy Hurts Judgment Collection

Because of the economic problem, everyone in the recovery industry is really hurting, or at least they are not making too much money these days. Stand alone judgment recovery specialists and sole practice contingency collection attorneys are suffering the most. This is because recovering judgments is costly, and every judgment recovery action must be paid for.

With our bad economy, there's not a way to save money if you are enforcing judgments, besides cutting back on enforcement actions; or only accept the very rare judgments, that look to be really easy.

Recovery companies and contingency collection attorney firms are also suffering. However, they can use less expensive recovery or recovery procedures. Non-contingency recovery attorneys are also affected, because less people are able to pay and keep paying their fees; however they are paid their retainer and can charge by the hour. My articles are my opinions and are not, legal advice. I am a judgment referral expert, and not an attorney. If you ever need a strategy to use or legal advice, you should contact an attorney.

Due to the slide of our economy, judgment debtors are becoming poorer. Everything in judgment enforcement depends on the courts and Sheriff; and they are increasing their fees, and slowing down the handling of judgment enforcement-related paperwork.

Because of all this, cash upfront prices offered when buying judgments are declining lower and lower; as the worth of each judgment depends entirely on the judgment debtor's financial circumstance. Sadly, many judgment-related websites are using BS for marketing, advertising untruths like "We buy judgments for 50% cash upfront". They do not, and most haven't ever paid more than ten percent, even for slam-dunk judgments. Many won't return calls or e-mails, or make cash offers for judgments sent to them.

Certain judgment owners try listing a judgment to sell on judgment marketplace sites, mostly as a result of them providing judgment owners with an imaginary hope that someone viewing their web site will buy their judgments. If a typical judgment is listed at above a couple of pennies on the dollar, it's a complete waste of time to list the judgment anywhere.

Every day, more collection agencies and judgment recovery specialists go out of business, and one more contingency attorney gives up their lone practice, and gets employment inside a collection agency or with a collection department.

At the same time that our economy is declining, many judgment creditors ignore reality, and will not admit their judgment is hard to recover, and they may:

A) Attempt to locate a contingency solution, and shop around until they find the lowest price for a future-payment recovery, and sometimes get what the creditor paid for, or they:

B) Attempt to find a judgment buyer that will pay top dollar for the creditor's judgment, which is a waste of time as the purchase price is based just on the specific judgment, the state, and most of all, the judgment debtor's situation.

It is really difficult to get more than a few pennies on the dollar on a typical judgment. For more money, find a contingency collection solution. When the debtor has available assets, you don't have to assign the judgment, which is a big advantage if a company or person attempting to recover your judgment has problems.

Get your judgment recovered at the best real price: - Judgment Recovery. The free, easiest, fastest and best way to start recovering enforceable judgments. (Mark D. Shapiro 408-840-4610) JudgmentBuy offers the Truth.

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