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. 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.
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. We, as the
legal assignee of record, are not affected by the FDCPA.
We can investigate the debtor, locate his assets and
seize them to enforce the judgment.
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. 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.
