Nobody wants to go to court. But sometimes, you have to sue someone to get paid what you’re owed. After this long process, the court may award you a judgment. The judgment is a court order instructing the debtor to pay you what he or she owes you. But often the debtor does not pay. So how do you get paid? Are there people who can buy judgments?
The process of enforcing a judgment is long and complicated. In fact, most courts judgments go uncollected. Therefore, if you have a judgment, judgment recovery services might be your best choice to collect.
Who Buys Judgments?
Have you won a case against your debtor in court and been awarded a judgment only to realize that it is worthless since you do not have time to collect it? A reputable judgment collection agency can buy your judgment or help you collect your judgment.
Judgment buyers buy judgment at a lesser amount that the value of the judgment. They give you an immediate solution to your problem.
Judgment buyers prefer to buy a judgment that is easy to collect or recover. The best judgment to buy is against a wealthy person, a company that does not have an outstanding debt, a business has lots of locations, or a person that does not have prior debt or liens against them. Unfortunately, it is rare to find such a debtor!
Before judgment buyers buy a judgment, they first take the time to learn about the debtor’s situation. Fore example, they check that they have not filed for bankruptcy protection.
There are many reasons why buying judgments with a one-time upfront transaction is advantageous to the judgment buyer. Here are advantages of buying judgment with a single transaction upfront.
- They do not have to share possible recoveries made.
- They have the freedom of recovering the debt fast for more edge.
- They are accepted as self-represented litigants almost in court.
- Buying a judgment makes it possible for a creditor to collect their debt slowly, which may be the judgment buyer’s preference.
How do judgment buyers buy judgments?
Judgment buyers contact judgment creditors and offer to buy their debt in a way that saves them time, and yet gives them an opportunity to make a profit. The main advantage is recovering the amount owed quickly rather than going through long and tiresome judgment recovery procedures.
Judgment buyers can choose to buy judgments, then recover the debt without the cooperation of the original creditor.
Experienced judgment buyers buy judgment at 1% to 3% of the value of debts that seem difficult to recover. This may because the debtor does not have an obvious way of repaying the debt. In a situation where the debtor has cash or assets to pay the judgment, the judgment buyer will pay more.
Judgment buyers will pay you cash for the judgment when you assign it to them. They will immediately record the assignment in court.
Where can I find judgment buyers?
There are a handful of companies that may be interested in buying your judgment. How can you find one in your state that will give you a good price?
Search through the Internet
I am sure you will come across many companies that buy judgments. But, how would you choose the best?
Make use of reviews that have been left by previous customers. They will give you an idea of how the company deals with its customers. Look through their website for signs of integrity and experience. When you contact the company of your choice, make sure you ask about their purchasing rates and if they make sense for you.
Referrals from attorneys, financial advisors, friends, and family. are valuable. They may have insight into the company you are about to do business with. Take note of the information given to you and use it to make your decision.
Who will buy my judgment?
Some judgment collection agencies specialize in judgment collection. They will help you collect your judgment. But ask them to buy my judgment and you’re unlikely to get a yes. You’ve already taken your time and energy to go to the court to sue an individual or a business that owes you money. You just want to collect what belongs to you without waiting any longer.
So, you might ask yourself, ‘Who will buy my judgment?’, or, ‘How much will someone pay for my judgment?’. If so, then you need a judgment judgment collection agency that pays cash for judgments. Then you get paid quickly, even if the judgment collection agency is unable to recover your money fast.
Instead of waiting for months or probably years to get your money back, you can sell it to a company that buys judgment to relieve you from the stress of collection.
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Who buys court judgments?
After you have won a judgment against your debtors, you can try to collect your judgment. But, how? You might consider one of the many different businesses that buy court judgments. Attorneys, private investigators, judgment enforcers, and investors all buy judgments.
It is sometimes difficult for judgment creditors to collect what belongs to you. But today, life has become much easier, thanks to the many judgment collection companies in the market. They will help you collect your judgment fast relieving you the headache of doing it yourself. They are experienced in what they do and can easily monetize your judgment.
What happens if you decide to sell your judgment?
When you finally decide that you want to sell your judgment rather than collecting it yourself, contact a judgment collection agent of your choice for help. The company will take time to assess the judgment. It may, therefore, ask you to send a copy of the judgment and some information about your debtor.
The judgment buyers may also ask for copies of other court documents when needed. Therefore, it is important to note that all the information provided to the collection agent must be accurate to determine the validity of your judgment. Court documents are public information. So don’t worry that you’re sharing confidential information.
An offer for the purchase will thereafter be sent to you. Make sure the offer sent to you is reasonable and fair. When you agree on the amount, the judgment collection company send you a purchase agreement and payment. They will then collect the judgment through legal remedies leaving you completely out of it. This will save you all the hassle and worries that come from dealing with an uncooperative debtor.
Are there companies that buy Judgments?
You should not have to worry about how to collect your judgment. A question like, ‘How do I find a buyer for my labor board judgment?’ or ‘Who will buy my labor board award?’ can be solved by finding a reliable judgment collector that can buy your judgment or help you collect your judgment.
It doesn’t matter who owes you, there are companies who are ready to help recover your debt. You only need to have a court judgment. These companies will buy your judgment with payment depending on the age of the debt, the amount of the debt and the financial situation of your debtor.
Before you select a company to buy your judgment, you should compare several and choose the one with the best offer. If you used an attorney to win your judgment, ask them for recommendations.
Go ahead and contact several companies to get quotes for your judgment. The offers will vary, so use the quote of one company as leverage against on the other when negotiating for better selling terms.
Before a company can buy your judgment, always ask for a contract. The contract should be straightforward and specify simple terms of doing business together. Also, take time to carefully read it to make sure the buyer does not come back to you if they are unable to collect the judgment.
If you have doubts with the contents of the contract always consult an attorney for advice or clarification.
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How can I find a judgment broker?
Who is a judgment broker? This is an entity that helps judgment creditors to quickly find the right expert to buy or recover their judgment.
You may find a business to have registered under judgmentbroker.com or judgmentbrokers.com, but are not really judgment brokers. That is only a domain name and has nothing to do with a judgment broker business.
Judgment brokers work by matching judgment owners to judgment buyers, layers or enforcers, that later help the original judgment buyers recover owed to them.
There are thousands of judgment buyers and recovery specialists. So why are judgment brokers needed? On the web, you will find many judgment buyers and recovery agents that claim to be the best. But judgment brokers know the track of records of judgment buyers and recovery companies. They exactly know what works and who can the best results.
If you choose to work with a judgment broker, choose one that;
- Does not demand or require any paperwork from you.
- Will not own your judgment. Always beware before assigning your judgment before they clearly explain it to you why that is required.
- Can refer you to solutions based on their first-hand knowledge as who can help you out recover or buy your judgment.
- A judgment brokers should have a database where they can track the performance of different judgment buyers and recoveries.
So, how do judgment brokers earn?
You are not required to pay judgment brokers to find you a perfect judgment buyer. They get paid by the judgment buyers and recovery experts. Judgment creditors act as a fast route to getting judgment recovery. In short, we can say judgment brokers are judgment referral experts.
Is there a judgment marketplace?
You have finally gotten your court judgment against your debtor, only to realize it is worthless because you do not have the time or the knowledge to collect it.
There are judgment marketplaces that are aimed to solve your problem. A good example is JudgmentMarketplace.com where judgment buyers meet people who want to sell a judgment.
Here, you will find business owners, consumers, and corporations who have listed the judgment for sale. Collection agencies and lawyers hang around here to see what judgments to buy.
A Judgment marketplace aims at bringing together judgment buyers and sellers. It acts as a central place where you can find all sorts of judgments. For example, car accident claims, commercial transaction claims, employment cases and many more.
The site serves best those who want to sell their judgments, and it is also a source of business for judgment collectors and law firms. This is an excellent place to buy and sell judgments.
Will a service buy my judgment?
Are you thinking of selling your judgment? If you are still in a dilemma and still wondering how you will collect your judgment, contact a judgment collection service that will buy your judgment.
There are many judgment collection services in the market today that offer different services. There are those who are willing to buy you judgment and relieve you the stress of collecting. You will have better luck with a local judgment collection service. Judgment collection is a local business.
Will an agency pay me for my judgment?
After winning your claim at the court against your debtor, the court will not help you collect money from your creditor. If the creditor is not willing to pay voluntarily, then it is up to you to know what method to use to recover your debt.
You can contact a debt collection agency to help you collect your debt from your debtor. The judgment collection agent can buy your judgment at a discount to relieve you the stress of the long and tedious collection process.
Here is a great video explaining how judgment buyers buy judgments:
Does anyone buy judgments for cash?
Most judgment collection agencies don’t pay cash for judgments. But there are a few judgment buyers who buy judgments for cash. If your judgment debtor owes you a significant amount, it may take years to collect. So you might choose to find a judgment buyer who will pay you cash.
Judgment collectors can buy your judgment for cash enable you to get your cash quickly. But they will buy your judgment at a discount to its full value. So be prepared to trade quick payment for less money.
Don't Collect Your Judgment.
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Will anyone buy my court judgment?
Judgment collection is not an easy activity. Therefore, this is a task that cannot be handled by anyone. Professionals that are knowledgeable in the field can collect more money from more debtors more quickly.
Let us look at the following scenario. Imagine you have given your car to a person who does not know how to drive your car. What do you think will happen? Chances are that the driver will cause an accident due to lack of proper driving skill.
The same thing often happens to people who decide to collect their own judgments. They get the judgment, but they end up losing because they cannot collect the money owed by the debtor. It is therefore advisable to look for an experienced judgment collector to purchase your judgment. When you do this with care, your judgment is bought at a fair and reasonable price.
You now know a little better who to contact to buy your judgment. Always make sure to use a reputable judgment buyer to get the best deal for your judgment. Time is of essence. The sooner you act, the better the chances that you can recover your debt.