Judgment Organization

I'm not an attorney, I am a judgment broker. This article is my opinion, and is not legal advice. If you ever need a strategy to use or legal advice, please contact a lawyer.

It is really helpful to keep everything organized before you try to collect a judgment. With basic filing and storage procedures may help it be more convenient to enforce a judgment.

The most important document to keep is the copy of the actual judgment. If it was a default judgment, the proof of service is also very important. Also worth keeping are most other documents from the court, particularly documents and receipts for any post-judgment enforcement attempts.

The judgment case number is important because it will be needed for any future documents associated with the enforcement of your judgment. The date of the judgment is also important, because every judgment eventually expires, and because it is needed for most post-judgment paperwork.

You must maintain an accurate record of the amount the debtor owes, and you need to be careful to not recover more than the amount is owed. Also, you need to maintain an accurate count of any money is recovered on a judgment. You also must calculate the interest earned, and all recovery-related costs you had to spend. Sometimes all or most of the accrued interest is collected, other times some of it isn't recovered, due to poor debtors, compromises and settlements.

Most judgments don't permit lawyer expenses get be added to a debtor's debt unless the contract breach which was the start of the judgment, allowed for them.

Only the debtor can repay a judgment, so you need to collect and organize all the information possible about your judgment debtor. You need to find all names or AKAs the judgment debtor uses now or in the past. Keep a record of all addresses your judgment debtor uses.

Try and find any names of any current and former spouses of your debtor. Current and ex-spouses of your judgment debtor are more likely to know about potential hidden assets of the judgment debtor.

Whether your debtor is a person, or some other entity like a corporation or a company; you should keep records for their mailing, residential, and all other addresses. Make note of the county for each address.

The debtor's email addresses and telephone numbers are worth keeping. Perhaps keep records of their work and home phone, spouse's phone, cell phone, and all other telephone number associated with the judgment debtorin any way.

If your debtor is a business, try to find their Federal Tax Identification Number (FEIN). If the judgment debtor is a person, try and find their (and perhaps their spouse's) SSN. Do not share anyone's SSN except if recovering a judgment, and even then, never share it with anyone except an employer, a bank, a process server, or a Sheriff.

An additional item to keep on file is the judgment debtor's driver's license number, and the state where it came from. Also try to learn the dates of birth of your debtor and their spouse.

When a judgment debtor was represented by an attorney, make note of their lawyer's name, address, telephone number, and email address.

Try to find out the debtor's place of employment. If a debtor has a job, that is probably good news, as usually employment income can be levied.

Anything you learn on your judgment debtor, their assets, or associated to the judgment, needs to be organized and saved in your files. Being prepared with this kind of information, will point you in the right direction to try enforce a judgment.

Keep everything related to your judgment debtor, without saving any redundant information. One never knows which small seemingly small, will be important for the successful recovery of your judgment. Enforcing judgments isn't cheap or easy, however one can make it somewhat easier by organizing and keeping important information.

Comments? Questions? Email Here

© HowtoAdvice.com

How to Advice .com