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Judgment Collections

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debt collection agencies

debt collection agency

accounts receivable

collecting accounts receivable

The Courts Are Not in the Business of Collections.

How do you go about collecting a judgment? There are a number of things to do. First, how much is the judgment for; what is the dollar amount? Second, ask the debtor how he or she will pay the judgment? Third, send a demand letter outlining the lawsuit and the judgment. Keep it simple, to the point, and make no threats; this is a business letter from a creditor to a debtor. Fourth, wait-and-see. If a significant amount of time goes by without payment of the judgment, then the judgment goes into collections.

But remember; Collections Are Up To You!!!!

At this point you can, do-it-yourself, hire a collection agency, contract a judgment recovery specialists, or write it off as a lost cause. All of these are viable. They all work. They all cost money. How much time and money you want to spend depends on you and the situation surrounding the lawsuit. For instance, was it a tax-deductible loss of income that prompted the suit? Is the judgment more than three years old or older because you originally wrote it off as a lost cause? Is the judgment more than 10 years old and not renewed? If so this is a loss and not recoverable. Judgments in California are only good for 10 years unless they are renewed. Is it a criminal judgment or court-ordered support and as an ex-spouse you need the child-support. Has the debtor moved or even left the state? These are all good questions to ask yourself and relate to how much trouble you want to go to in order to recover the judgment. There is one more question you want to ask yourself;
Do You Care Whether the Debtor Pays the Debt or Not?

 

If the answer is yes, visit our home page to see how we can help you.

Judgment settlement is increasing!