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At our company, we've verified the continuing fates of at least 9,000 judgments in the last few years. The only good part is our company's initial opinions of the creditor's actual circumstances (by just searching just public records on their debtor) were nearly always right. The bad part is that it appears that more than ninety-five percent of creditors that are not paid very quickly, did not get paid anything for their judgment; no make any difference how many people and companies they sent it to. This article is my opinion and is not, a legal opinion. I am a judgment broker, and not a lawyer. When you want a strategy to use or legal advice, please retain an attorney. Currently, there's an often-quoted statistic seen all over the internet, that came out of the past (about 15-20 years ago); that "80% of judgments are never collected". With the nationwide elimination of assets, income, and jobs for an average debtor, those old statistics long ago, fell apart. In my opinion the statistic is closer now to 95% of judgments not paid quickly, never get recovered or sold. When we are sent a creditor's judgment (and much more important, information about the judgment debtor) quickly check their debtor's situation by checking just public data record searches, and our company's proprietary internet-based searches. We give creditors a simple; yet honest, objective, and also a free summary of the creditor's judgment circumstance. In a consistent pattern, judgment owners with average money judgments send them to our company, and say the debtor is very wealthy; and the creditors usually are looking for to sell their judgment quickly for cash upfront at (e.g., 33-90%) of the judgment's initial amount. Most of the time, when a judgment is emailed to us, having their allegedly "wealthy" judgment debtor. When our company uses public data search tools, we find their debtor does not own much of anything, and has lots of other judgments they owe on, and/or bankruptcy and crime histories, uses several SSNs, etc. Often, the creditor's glowing picture for the debtor's situation, originated long ago, when the debtor got served with the lawsuit, and has long since went sour; and there are currently not any assets that may be levied to repay the judgment. We've been sent many thousands of judgments over the years, and when we need to inform creditors that it is our opinion their debtors appear to be broke now, and no one will purchase their judgment for (e.g., 50%) cash upfront; the usual reaction is the creditor quickly rejects our professional opinion. The creditors say we are wrong, and some creditors say they will just send their judgment to websites who promise to pay at least (e.g., 50%) cash upfront for my judgment. Nobody will pay even 10% for average judgments. Because our company insists on getting a copy of the judgment situation before we will research the judgment debtor using public records, we have verified the continuing outcome for many thousands of "rejecting creditor" judgment situations. When one knows the court case number and/or names, most court websites let you see some kind of synopsis of judgment actions in their court. Some courthouses do not provide web sites which display detailed judgment transaction histories. In our company's several-year study, we have reviewed at least 1,900 refused judgment situations; but only 1,000 had online court information which we could check. Every cash upfront judgment sale or recovery action requires a court action. From the batch of one thousand "reject judgment owner" judgments, just 5 of them had any kind of court action at all. This proves 995 of those judgment owners never found a buyer or got a dime. If the creditor's judgment was successfully sold to a buyer, an assignment of judgment would certainly have already been filed with a court. If there was anyone trying to recover their judgment; there would have been the writ of execution or some similar document, filed with that court. Even with the five judgment situations having any type of court-related actions; only two judgment owners got some payment, and only 1 judgment creditor was fully satisfied. Many other creditors were smart enough to agree with our company's initial assessments on the creditor's judgment's circumstance, and we quickly found the right recovery experts for them. If the judgment owner agreed with an actual buyer's quote, they were paid. If the judgment owner picked a referred recovery professional, the creditor finally had a real chance for getting paid more than any cash upfront sale, in the future. Out of the thousands of expert free judgment owner referrals we've made over the years to the best professionals, so far, just about 8% of the judgments had anything collected whatsoever; a really shocking statistic. However, this is somewhat better than the general ninety-five percent statistic, because these were judgment owners that faced reality and found the best recovery experts. It is no surprise that actual buyers don't spend much for typical judgments. Judgment collection is a recovery effort, which means to collect or enforce a judgment. Judgment buyers are available and can help with any judgment collection attempts. Mark Shapiro of http://www.JudgmentBuy.com - Your fastest and easiest free way to find the right expert to recover or buy any judgment.
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