Judgment Collection Tips

Collecting Judgments:

Even in case you win a legal battle, you have to collect a judgment. It means that you have to collect the awarded money. It is wrong to expect the court to collect it for you.

It is not that difficult to collect from businesses and solvent individuals. This is because most of them will regularly pay against any collecting judgments declared against them. In case they do not, there are plenty of legal ways that can force them to pay.

Unfortunately, some businesses and people that are sued in court are either bankrupt or skilled to hide their assets. This makes collecting a judgment highly impossible.

Tips to Collect Judgments:

Never start too soon: Do not rush to ask for money. Majority of states give the right to appeal for a losing party. Hence, it is a good idea to wait until the deadline to the file for an appeal that has passed before collecting a judgement.

Also, do not annoy the other party. You can just push him or her to file an appeal. Generally, the other party need not pay a judgment while the appeal is pending.

Ask for the money: If you ask nicely, a surprising number of debtors will pay their court judgment. Often, all it takes is a business like request for payment. Never tell the debtor how to collect judgment, in case she or he does not pay. However, this may encourage the debtor to hide certain assets.

Put burden on debtor: Once you win the collecting judgement from the court, you get a legal entitlement of your money. Rather than worrying on how to sell and collect judgment money from the debtor, encourage the debtor to solve his or her own problems.

In case the second party says that he has to pay but does not have the money, it is important that you suggest ways to the person to raise the sufficient cash. For instance, by borrowing the money from a relative or friend, dipping into the retirement accounts and taking cash on the credit card.

Begin with easy to access assets: When you plan a collection strategy, it makes sense to start by going after a low hanging fruit. Bank accounts, wages, and the amount paid to the business of a debtor are easy to grab. The procedure is quite inexpensive and simple.

For more information on collecting judgments, please visit the website www.onlinejudgmentcollection.com