What happens after I send
my judgment paperwork?
First, you send JudgmentBuy a copy of your judgment and information
about your debtor. (Only a debtor's assets can potentially pay a judgment.)
Then, just wait for us to email or call you,
telling you we found a recovery or purchase solution for you.
JudgmentBuy either finds you a solution
the same
day, or list a summary of your judgment on our web site and then
finds a solution for you. You are not obligated but it is smart to
go with our recommended solution matched to your judgment situation.
When your judgment looks good (your debtor has much more
available assets than is required to satisfy the judgment)
JudgmentBuy finds you a buyer or enforcer very quickly
for free with no JudgmentBuy paperwork.
When your judgment does not looks good (your debtor has much less
available assets than is required to satisfy the judgment)
JudgmentBuy finds you a contingency collection agency with the
skill to recover at least some of your judgment - and that has agreed
to discount their recovery fee by 10%. In this case, there is
a simple form JudgmentBuy requires you to sign where you agree to pay
JudgmentBuy 5% to compensate us for our work. JudgmentBuy is only
paid if you recover money. Our fee comes from the amount we
save you, so we are almost always free.
JudgmentBuy knows thousands of Judgment Enforcers (JEs) which are either
recovery experts, judgment buyers, contingency collection lawyers, or
contingency collection agencies.
JudgmentBuy finds the JE best suited to buy or enforce your judgment
(recover your money) from the debtor. (The JE has
already signed our separate agreement with them.)
We find the right JE as quick as we can -
sometimes the same day. Then we step out of the picture.
If you choose to start your judgment enforcement
with the JE we recommend, and wish to proceed,
you then sign and return their (Agreement and Assignment)
documents.
Then the JE files the Assignment papers with the court
to make them the legal owner of
the judgment. (If we refer you to a contingency collections lawyer,
you almost always retain ownership of your judgment.)
Unless the JE is a lawyer or a collection agency, they must
own your judgment before they can recover money on the judgment.
As discussed elsewhere on the JudgmentBuy FAQ, this is safe,
and done thousands of times a week. In the case of an attorney or
a collection agency, you retain ownership of your judgment and
they work on your behalf.
Note that (this is true across the entire judgment enforcement
business) the JE is not obligated to keep your judgment.
Most of the time this is not an issue - but occasionally,
a Judgment Enforcer will return a judgment soon after
you assign it to them. The reason is that
when a JE sees and inspects your judgment, they don't own it.
When JudgmentBuy introduces
you to a JE that is right for your debtor, the JE still don't own
the judgment.
If one does not own a judgment, one cannot dig deep into
a debtor's situation. Only after you assign your judgment to the
JE - does
the JE own the legal right to
collect your judgment.
Sometimes when JEs dig deep,
they find a hopelessly broke debtor. Most JEs have no interest
in buying more file cabinets to store files of
judgment-related paperwork for hopelessly
broke debtors. (But if you ask the JE to simply
check your debtor every year,
and promise to not bug the JE - some JEs will keep such
"hopeless" judgments, and check them once in a while. They
want to get paid even more than you do.)
Usually this is not a problem - you assign your
judgment to the JE, and the recovery process begins.
Once a JE agrees to enforce your judgment, we
refer you to them. Then JudgmentBuy steps out of the picture.
You can choose to sign Agreements and Assignments
with the qualified Judgment Enforcer we recommended.
Then, the (often slow) recovery process
begins. The rest of our FAQ
explains how things usually work.
The Judgment Enforcer wants to be paid even more than you do,
so they will enforce your judgment as fast as the reality
of the debtor's situation allows.
Go Back To Articles
JudgmentBuy.com Home Page
|
