The World of Judgment Enforcement.

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Though I work in the legal industry, I am not an Attorney. Some have asked where I attended law school; which I did, though briefly and I will not be going into where or when as it is not important.


I am however, the owner of a judgment enforcement company. Some ask if I am bounty hunter, which I am not. So what is it that we do?


Lets say that you file suit against party "B", in the amount of $20,000.00. You win your suit, however, the judgment is worth nothing unless party B pays you. Now, it is 2 years later, and you are strapped for cash. You have this 20K judgment that still has not been paid.


You have three choices...1. Call the debtor and hope that he/she will pay you, good luck there. 2. Hire an Attorney or do the leg work yourself and petition the courts to levy. This option is OK, however, if the Attorney finds no funds, you still have to pay him. Now you are out not only the 20K, but the fees you've paid to your Attorney. 3. Or you could come to someone like myself. We are not paid any fees, unless we collect.

How It Works

You've come to me, and I have asked you a few questions. 1. How much was the judgment? 2. Do you have any information on the debtor; i.e. SS#, do you have a check that he/she has written to you, do you know where they work and how long, etc.. Once I have gotten as much information as I can, I then do what we call a lite investigation.

Lite Investigation

A lite investigation is where I will spend little to no money investigating the debtor. Also at this stage, I will only look into items that are public record as I do not have all rights and titles to the debt. From this point, I will have a better idea if the judgment is worth contracting. If the contract is worth consideration, I will contact you with a drawn contract.

The Contract

The amount of the debt will depend on the contracted rate. Other stipulations will also apply. If you are a business, lets say a banking entity with lots of judgments, I would be willing to lower the fee contingent on getting future contracts. However, in this case this would be a one time deal, and with that per my scale, the contract on 20K would be a rate of 25%. I'm not greedy, as most in my profession ask for 50% on all accounts. If you were to have visited us with a smaller judgment of lets say 5k, then the contract would be at the 50% rate.

Until the contract has been signed, I can not levy against the debtor. Once the contracts have been signed, all proper documents will be filed with the courts. Now for the hard part.

Enforcement

I have filed all documents with the courts, what my next step? I now have all rights and titles to the judgment. This means that I have the right to levy against the debtor. We will make this an easy one for the purpose of this lesson. Your debtor, is a business owner, and business is booming. With my army of information brokers, or one of the 2 private investigators, and one of the three attorney's I employ we begin the process of the levy. We find that the heart of the debtors business is technology. He has a computer system that is the basis of his business. when we have found this information, we pay a visit to either one of the investigators who also has a licence to deliver writs, or we have the local sheriff's ofc deliver the writ and take the components that run the computer system. Do I have to warn the debtor, no, but it is always nice for me to ask for the funds before going to the lengths described.

The debtor's business has been shut down until he either comes to the table and outlines a payment plan; which I'd rather have then full payment up front, or he pays the balance in full.

Why would I rather have payments instead of payment in full? If I have 30-40 debtors paying me every month, then I will have a steady stream of income.

If the debtor elects to pay monthly, you will be paid first with the exception of all fees that I paid to enforce the debt. Once those fees have been paid, you will start receiving the monies you are owed. Once the balance reaches its threshold of the contract, I then take all payments that are made. However, this debtor elected to pay in full. I cut you a check for 15k, and I take my 5k, and move on to the next case.

This is not an easy business. Most debtor have no money to pay, and you have to garnish wages, or levy against property you really don't want to take in order to fulfill the debt. Often, what you have levied against doesn't even pay for your legal fees, bank accounts is the number one culprit in this case. No, you do not get to know the amount in the account before you levy. You only get to know that they bank at this bank, or that bank. I feel the worst in this business during Christmas. However, if my client doesn't have the money his family wont have a Christmas, and that's how I choose to look at it.