Avoid The Frustration Associated With Judgment Collection And Recovery
There is currently a great deal of information provided by the media outlets, including the Internet, covering all aspects of debt relief or how to avoid bankruptcy with very little attention given to judgment collection and the enforcement of court ordered awarded judgments. Unless you are in the business of debt collections or specialize in bankruptcy, there is little chance of the layperson being fluent in judgment recovery.
What most people don’t know is there are approximately over $230 billion in uncollected court-ordered judgments on the books in the United States and it is estimated that almost 80% of these will go uncollected. There are a variety of reason this is the case with the most dominate reason being judgment winners don’t know how to enforce judgment without the help of a attorney.
Although the courts provide the winner of the judgment with the full authority and weight of the courts to enforce collection, they provide little if any information about how to go about judgment collection. This part of the collection process is left entirely to the winner in the case with these people very often giving up in frustration. Debt collection law firms often will not even consider a collection case unless the amount is over $10,000 or more and there are retainer fees and hours that are billable at $150 per hour or more which makes retention of a law firm untenable for the judgment creditor.
Fortunately there are courses available for people to learn about judgment recovery, which teaches them how to locate places of employment, bank accounts, property and other assets that can be levied or liens put in place to collect judgments. These courses are also available to people that choose to go into business as a judgment collecting specialist collecting judgments for people that do not have the time or money to either do the research or retain a high priced law firm.
There are large debt collection firms that specialize only in debt collection which are available to judgment creditors to help with judgment collection. However, most all of these collection agencies cater to large commercial clients such as credit card companies or loan companies that can provide the collection agency with a large pool of collections. Expensive and unreasonable for the budget of the individual judgment creditor, large collection agency are not usually a viable resource.
There are two ways that a judgment creditor can increase their chances of recovering the money that has been awarded by the courts.
Judgment Collection Specialist
Judgment collection specialist are individuals that are in the business of collecting court awarded judgments on behalf of judgment creditors that cannot afford to pay expensive fees to lawyers or collection agencies.
These specialist work on a commission base and are paid a agreed upon portion of the amount collected and only if money is collected. Very often, judgment creditors have tried, to their wits end, to collect the money they are owed to no avail and often give up in frustration, with this being the reason why almost 80% of all court awarded judgments go uncollected. Utilizing the services of a judgment recovery specialist can very often increase the chances of being successful in collecting the money a judgment creditor is owed.
Do-It-Yourself Judgment Recovery
The last option available are people that choose to learn all they can about the judgment collection process and are people that are not that take being unsuccessful lightly. However, for people that do not know where to start, a judgment collection course is the best option. Although most judgment collection courses are designed around the idea that the person taking the course has the desire to become a judgment collection specialist, judgment creditors can utilize a judgment collection course to collect their money for a fraction of what it would cost to retain a law firm or employ the services of a collection agency. In some cases a judgment collection course can be purchased for under $50.
If you are the winning party in a judgment and need information about how to collect your judgment, visit http://collectjudgment.info/ and discover techniques and procedures that can increase your chances of collecting the money you are owed. Judgment collection is also a very lucrative business for motivated individuals that desire to be build a home based business and increase their income substantially.