Q: There is no mention of the annual interest on the Judgment Enforcer’s purchase Agreement – why is that?
A: The Judgment Enforcers’s (JE) purchase agreement form is designed to match the court-filed assignment of judgment form. There is no need to mention interest – because interest is part of the “rights and title” of owning a judgment. In a judgment enforcer’s agreement with you, they pay you (e.g.) 50% of what they get from the debtor – principle and interest. You get (e.g.) 50% of what the JE gets from recovering (paying the Sheriff to take) the assets of the judgment debtor.
The JE attempts to recover the full value – including all costs and interest due – that is their goal – but everything depends on the situation and the debtor. (Some judgment enforcers share the interest they recover with you, some keep all the recovered interest.)
Also, if you have previously renewed the judgment, notice the assignment form only lists the original judgment amount. Court clerks require the amount on the assignment form to match the original judgment amount that was first recorded at the court. What is written on purchase agreements does not change what the debtor owes.