When someone owes you money in a judgment it puts more than just a damper on your day, any unresolved judgment enforcement efforts can negatively affect your entire financial lifestyle. There are countless reasons why you may want to pursue professional judgment enforcement after having won a court-ordered judgment against someone for any of the given reasons;
Do not let your judgment end up like 80% of all judgments; uncollected. While trying to enforce a judgment yourself may seem appealing, by the time you pay court-related expenses it can get expensive. So much that the costs related to collecting on a judgment yourself can easily rack up to be more expensive than what the judgment is originally worth without the proper assistance. This leads to out-of-pocket expenses of your time and money. The best and quickest way to get whats rightfully yours is using judgment recovery service to get professional help for your specific situation.
After the judge signs the judgment stating that you can legally collect what is yours, you should attempt to identify the debtors assets. Sometimes this is ordered by the judge overseeing the case and the debtor complies, this is where the debtor may not be telling the entire truth about all cash assets or savings accounts balances. There may also be 401K plans or savings bonds that could be hidden from plain sight as well but its recommended that you do not directly contact the debtor at this point for any reason, the element of surprise is your friend. Requesting help from a judgment enforcement company to do a closer examination of assets may reveal more money tucked away that you have a right to which is hidden away from the public eye. We can also help locate money or assets that may have been dumped into someone elses account—such as a spouse prior to their court hearing. If your case is accepted we use our entire arsenal to best find out where are all assets and accounts are located.
Enforcing the judgment must be done quickly. There is often a time frame—depending on the state where the debtor lives in order to collect without filing more paperwork. One way is to garnish bank balances. You will need a separate order of garnishment to make a one-time sweep through the account. The debtor is not notified until after funds are removed. Keep in mind that some funds are exempt from garnishment such as social security wages and disability. Other ways you can enforce judgment include
Always be sure to have the proper paperwork signed by a judge to avoid legal ramifications.
Sometimes a debtors assets run dry or they have nothing to recover. This will be a long-term process in which you will have to closely monitor their assets throughout the year. Being able to quickly move in and obtain items or collect on wages and tax refunds is essential at seeing any return in what they owe you. Working with a qualified skip-tracer can be expensive but will help recoup as much money as possible with your particular case.
Collecting on high dollar judgments can be hard but it takes time and diligence to sweep in at just the right moment to get the most out of the judgment collection process.