Who Might Recover Your Judgment?
I am not a lawyer, I am a judgment and debt matchmaking specialist (Judgment Broker). This article is my opinion, based on my experience in California, and laws are different in each state. If you ever want legal advice or a strategy to use, you should contact a lawyer.
If one has a debt or a judgment, you may attempt to collect it yourself, however most people get help from professionals. This article discusses the pros and cons of using collection agencies and judgment enforcers.
A possible disadvantage of using judgment recovery professionals is that they are most often very small companies or sole proprietors. An advantage of collection agencies is that they are most often companies with more people on the payroll, which makes them more stable and better able to respond.
A disadvantage with judgment enforcers is that they are most often very firm on pricing. It does not matter to judgment recovery professionals how old the debt or judgment is, they most often charge fifty percent to collect, As they need to average in all the lemon cases they ended up wasting money on, trying to collect. (Nobody can predict with accuracy which cases will become lemons.) Sometimes collection agencies are less expensive when the judgment or debt is new.
A disadvantage with judgment recovery professionals is that they are more likely to suddenly exit the judgment business, than the average collection agency. In my work, I know the statistics, some judgment enforcers who leave the judgment business do not properly assign judgments back to the original judgment creditors.
A potential disadvantage with judgment recovery professionals is they need to be assigned ownership of every debt or judgment. This is not really a disadvantage, unless they go out of business. Collection agencies have the advantage of not owning your judgment or debt.
The majority of judgment enforcers only recover judgments, however most collection agencies recover both debts or judgments.
An advantage of judgment enforcers (especially when the debtor has assets) is they usually try much harder than most collection agencies. Most judgment recovery professionals are more creative than collection agencies on difficult cases.
An advantage of collection agencies is, they take judgments or debts of almost any size. Judgment recovery professionals usually have minimum dollar amounts they will take, and will not take any judgments less than that amount.
An advantage with collection agencies is they will usually try to collect any viable debt or judgment. Judgment recovery professionals are becoming even more picky now, on which judgments they will take, due to the rotten economy.
While this article highlights the pros and cons of using a judgment enforcer or a collection agency, every judgment or debt situation is different. Deciding which is right for your judgment or debt, is not always easy, and a judgment broker can really help.
About the Author
http://www.JudgmentBuy.com - is the best and fastest judgment and debt solution, where Judgments and debts quickly get recovered by the very best - matched to your debtor. Mark Shapiro - Judgment and debt Broker - best quality free leads for collection agencies and contingency collection attorneys.
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