Enforcing A Judgment(By Derek Gray)
Most people think that once they're awarded a cash judgment that it is guaranteed they'll get paid for it. Unfortunately that's far from the truth.
Once a judgment is awarded, then most often your attorney will stop working on your case, unless you want to pay them more. It's then up to you to enforce your judgment. This can be done by either spending your own money and time enforcing it yourself, or you can find a judgment enforcer.
What a judgment enforcer does, is to enforce your judgment through legal methods. This includes, but is not limited to bank levies, wage garnishments, liens on property, UCC liens, etc. These methods cost money, and sometimes the judgment debtor doesn't have enough funds available to cover your costs.
That's why it's good to have a judgment enforcer or a contingency lawyer do this for you. A judgment enforcer will pay for the enforcing costs. A contingency collections lawyer will pay the enforcing cost as long as it's worth their while. This means usually 50% of whatever they recover after deducting the recovery.
The big question is, which one should you choose - a contingency collections lawyer or a judgment enforcer? Well, that depends on what you want. If you want to retain ownership of your judgment then you need to hire an attorney. If you are willing to assign your judgment over to someone then you'll need a judgment enforcer. Lawyers sometimes have more success then Judgment enforcers. This may be because the courts are more willing to work with an attorney.
If you're wondering how to get your judgment enforced you have a few options. One of them is to look up judgment enforcers online. Then spend your day calling them up and explaining the situation to them. This will take hours to do though, and sometimes judgment enforcers will not want to take your Judgment.
Another option is to list your judgment on a website like JudgmentMarketplace.com, however that site never gets results for creditors.
The reason why I recommend JudgmentBuy is simple, because they produce results. There are many websites out there where you will list your judgment and it will be on there for months with no takers. Most of the time JudgmentBuy is able to find an enforcer for you within (at most) days.
JudgmentBuy specializes in helping you get paid. JudgmentBuy is the best way to find an actual judgment buyer (if you sell for a realistic price) in every state.
What you need to understand about cash up-front judgments is that they are almost impossible to sell for enough money to make you happy. It costs money and takes a lot of time to enforce a Judgment. Your best bet is going to be on a future payment basis. JudgmentBuy is the best way to start outsourcing the collection of your judgment.
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