|
Is there a statute of
limitations on executing my judgment?
Yes. Your state law sets a limit on how long a judgment is
enforceable, called a Statute of Limitations. This period is
usually from 5 to 20 years starting on the date your judgment
was awarded. Click the 'Statutes of Limitations' button in the
column to the left to check your state's information. Some states provide a way of renewing your judgment
for an additional period of time.
Can I recover interest on my
unpaid judgment?
Usually, yes. Most judgments include a provision for the payment
of interest from the day it was awarded. The actual interest
rate and calculation process varies from state to state. With
interest, your judgment could be worth significantly more than
the day it was awarded. Click the 'Judgment Calculator' button in the
column to the left to calculate the amount of post-judgment
interest due on your judgment.
Why shouldn't I use an
attorney to enforce my judgment?
You can, if you are willing to
put down a retainer and pay a fee of between $125 and $175 per
hour, whether they ever recover
anything or not. When we enforce the
judgment, we pay you per our agreement.
How about using a collection
service?
A collection service may contact
the deadbeat and irritate him to death! They may even place a
black mark on his credit report. But, they rarely collect! And
with the passage of the FDCPA (Fair Debt Collection Practices
Act), the debtor has the right to just tell a third-party debt
collector to cease all communications.
Is there any guarantee that
you will be successful?
No. Sometimes there are simply no assets to seize. But you can
be sure that we will do our best, because if we are unable to
enforce your judgment - we don't get
paid! This gives us a serious incentive to succeed!!
Must I pay any of the expenses
incurred in enforcing my judgment?
No. In fact, we *purchase the judgment from you, usually
on a 'future pay' basis. At the time that we purchase your
judgment, we've neither had the opportunity nor the legal right
to investigate the judgment debtor. We can only do that after
filing an 'Assignment of Judgment' with the courts. We then
investigate the judgment debtor, and in accordance with the laws
of your state, proceed with our enforcement efforts. Only after
our investigation can we actually determine the value of the
judgment. In most cases, the expenses incurred in enforcing the
judgment are either added to the judgment and recovered from the
judgment debtor, or they are deducted from the amount actually
recovered. Either way, you have no upfront expense.
How long before I will
actually see results?
It all depends on the difficulty in locating the judgment debtor
and in uncovering his assets. Some debtors are pretty adept at
hiding their assets. They appear to live without any 'normal'
means of support. We will try our best to get results in the
first few weeks, but it could take months in a difficult case.
I have a judgment awarded in
one state against a debtor who resides in another state. Can you
help?
In most cases, yes. Especially if the judgment debtor answered
your complaint or made an appearance at your hearing. If the
judgment debtor didn't appear, the judgment is called a
'default judgment' which is usually considered a weaker
judgment. Each of us has the right to confront our accusers and
to defend against any legal claims. So, if the debtor is able to
show the court that he was not properly served, or served in the
wrong capacity, he can file a motion asking the court to set
aside the judgment. Overcoming this hurdle can be one of the
most difficult in any enforcement effort. Especially when done
across state lines.
How does all this work?
First, we complete an agreement detailing the specifics of the
*purchase of your judgment. If acceptable, you will then assign
the judgment to us making us the 'assignee of record'. Once we
have filed the assignment documents with the court, we will have
the legal right to investigate the judgment debtor and proceed
with the process of enforcement. We will then make payment to
you based on the funds recovered from the judgment debtor, per
our agreement.
I'm sold! What is my next
step?
Just complete the short online application by clicking 'Submit
Judgment'
in the column to the left. We will contact you by telephone and
send the necessary documents for your signature. On return of
the signed documents, we will immediately initiate enforcement
of the judgment. |
