More Than One Judgment

August 12, 2023


I am a Judgment Broker, and am not a lawyer. My articles are my opinions, and not legal advice. If you ever need any legal advice or a strategy to use, please contact a lawyer.

When you won your judgment, your first thought was perhaps something similar to “I want to collect as much as possible from this louse”. Your next thought might have been “How can I collect my judgment?” You might have even wished that you could collect more than what was legally required, because that fraud ripped you off.

Alas, the law does not permit one to recover more than what is owed on a judgment, which is the sum of the original amount of the judgment, any accrued interest, and most court-related recovery costs that have been documented and approved by the court.

Sometimes your judgment debtor burned other creditors too, and some other people or entities may also have judgments against your debtor. If your judgment debtor has assets, and you are persistent enough to satisfy your own judgment, perhaps you could try to enforce the judgments other creditors have against your original judgment debtor?

Most judgments are never collected, so perhaps after you learn how to recover your own judgment, you can recover judgments for some other creditors of your judgment debtor. Professional judgment enforcers do that all the time, they look for other judgments against the same judgment debtor.

Once you go through the expense and hassle of discovering your judgment debtor’s location and assets, you can use that knowledge, to recover other judgment debts that your judgment debtor owes to other creditors.

At the same court you got your judgment at, or with some kind of information service, you can find other unsatisfied judgments that your judgment debtor owes. Then you can contact the other judgment owners and offer to purchase their judgments. If the creditors have a realistic interest in getting any money from their judgment, then you can make the creditors an offer, to purchase their judgments.

How much to offer to pay the other judgment owners is up to you. Some states only allow outright cash upfront judgment sales. The average judgment enforcer pays 50% of what they recover, after they recover the debtor’s money, on a future payment basis; or a tiny fraction of the original value of the judgment (2-7% is the average) for a cash upfront purchase. Do not buy a judgment cash upfront for too much money, for many reasons; including the judgment debtor may run out of money, and if they file for bankruptcy protection, you probably will not get a dime.

After the judgment purchase prices are agreed on, then you ask the other judgment owners to sign your judgment purchase agreement, and also your (notarized by them) “Acknowledgement Of Assignment Of Judgment” to transfer their judgment to you. Then, as the new owner of the judgment, you file the completed Acknowledgement Of Assignment Of Judgment with the clerk of court. Then you will own the judgment, allowing you to attempt the same recovery procedures that you used on your original judgment.

Before you try to recover judgments from original judgment owners, make sure doing so is legal in your state. The ability to purchase a judgment and then attempt to recover it, depends on the pertinent statutes and court rules in the judgment debtor’s particular state and jurisdiction.

Recovering again, against the same judgment debtor, allows you to benefit from your first judgment enforcement efforts. You can simply repeat the steps, for any additional judgments that you have purchased against the same judgment debtor. Imagine the joy of not only recovering your own judgment, but also making additional money helping others recover what is owed to them by your judgment debtor.

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