Judgment Recovery Specialist Article
On of the largest obstacles for creditors that have won civil court cases against debtors is locating people and assets to begin the judgment recovery process. As most individual creditors soon realize, winning a judgment in civil court is just the beginning of the battle. Once the gavel comes down and judgment is awarded on behalf of the plaintiff, the courts for the most part, are done although the courts do provide tools that can be utilized by creditors to enforce judgment with full authority of the courts.
One such tool is wage garnishment if the place of employment can be located. Another tool that is available is a bank levy. Bank levies are used to freeze the balance in the account for 21 days at which time the funds will be turned over to the creditor. Property liens are another way of satisfying a judgment and collect the amount owed by the debtor.
The above mentioned tools are all available to creditors for judgment recovery and are all authorized for use by the courts. However, in order to implement these tools in use for judgment enforcement, a creditor must first locate places of employment, bank accounts and property of the credit debtor.
Skip Tracing Collections In Judgment Recovery
Skip tracing is a term used to define tactics used to locate people, bank accounts, places of employment and property that is owned. These tactics are routinely employed by debt collectors, private investigators, law enforcement agencies, bail bondsman, law firms and individuals that are in the business of skip tracing. For this sake of this article centered around judgment recovery, we will focus on the area of skip tracing in terms of locating assets or places of employment.
In order to skip trace judgment debtors with success, we must first start at the beginning. Creating a file with as much personal information that can be gathered is the first step. Of course we are going to know the debtors name but we must also build a historic profile. We must determine if the debtor is single or married and if married, what is their spouses name. Following the paper trail of a spouse may be all you need to locate the debtor since the spouse may not be trying to avoid the judgment recovery process.
The skip tracer will also want to locate the social security number of the debtor, date of birth and a last known address if possible. Experienced skip tracers and bill collectors also do phone number research and if the phone number of the debtor can not be found, very often contacting neighbors if an address can be found will very often produce a very quick response from the debtor. People are generally very embarrassed by the bill collection process and will quickly contact a bill collector in order to cease embarrassing phone calls to their neighbors.
Locating past employers can give and indication of what industry the debtor may be employed in and could greatly reduce the amount of time searching for the debtor since a majority of people remain within the industry in which they have been trained. Educational backgrounds can also be researched to determine a likely path to begin skip tracing efforts. Personal information such as drivers license numbers, credit reports and passports can also provide a wealth of information that can be invaluable in the skip tracing effort.
Skip tracing is a learned skill and one size does not fit all. Creativity and innovation are the trademark of a successful skip tracer. Skip tracers with the ability to think outside the box do well within the industry and make an excellent living as their services are highly sought after by collection firms and law firms. The Information Age that came with the advent of the Internet have made skip tracing and judgment recovery much easier. Personal and financial records along with addresses and employers can be located of judgment debtors utilizing databases that are readily available if creditors and judgment recovery specialist know where to seek out these valuable resource.
Visit http://collectjudgment.info/ for information.