Sell Your Judgment to a Collection Agency

Selling your judgment to a collection agency can be a smart financial move, allowing you to recover a significant portion of the debt owed to you.

You can expect to receive 20-50% of the judgment amount, depending on the collection agency's success rate and the type of debt.

By selling your judgment, you can avoid the hassle and stress of trying to collect the debt yourself.

Collection agencies typically take a percentage of the recovered amount, which can range from 20-50% of the total.

This means you'll get to keep the remaining 50-80% of the debt recovered, which can be a welcome relief.

To qualify for a judgment sale, you'll need to have a valid, enforceable judgment against the debtor.

You'll also need to provide detailed information about the debt, including the amount owed and any relevant court documents.

You can sell your court judgment, and it's a legal process. Any civil judgment involving a debtor and creditor can be sold for enforcement.

The sale of a judgment transfers the creditor's rights to the buyer, who then assumes responsibility for enforcing the judgment. This means the debtor is no longer responsible for any actions taken by the buyer.

By selling your judgment, you're absolving yourself of all responsibility towards the debtor. The buyer takes on your position as the judgment creditor and will bring all enforcement actions in their own name.

You can sell a judgment, just like any other personal property. This includes civil judgments, labor board decisions, divorce court decisions, probate court decisions, and bankruptcy court decisions.

The creditor selling the judgment assumes no responsibility towards the debtor after the sale. The buyer takes on the role of the creditor and is responsible for enforcing the judgment.

A judgment can be sold to another debt collection agency, just like any other debt. The buyer must have proof of assignment of the particular judgment.

A judgment can live a long time, and its value doesn't necessarily depend on whether it's presently collectable. Whether you're low-income or not, the creditor can still try to collect the judgment.

You may not have to worry about wage garnishment if you're low-income, but the creditor can still try to revive the judgment. A 2009 judgment, like yours, has to be revived every 7 years to be enforceable.

The creditor has the right to bring you to court and put you under oath to find out about your assets and income. If you don't have much, it's a good idea to tell them, and they may put your case on hold.

You've won a lawsuit and are now looking to collect the judgment. Judgment collection is a crucial process that ensures the winning party receives the compensation they're entitled to. It's a complex process, but understanding the basics can help you navigate it more effectively.

Judgment collection involves enforcing a court order requiring the debtor to pay the judgment creditor a sum of money or surrender specific property. This process typically involves identifying the debtor's assets and sending a demand letter. You might be able to sell your judgment for cash if the debtor has a stable job and hasn't filed for bankruptcy, but you shouldn't expect to get more than a few cents on the dollar.

The judgment collection process can be lengthy and may involve hiring a judgment collection agency. However, if the debtor has real estate with equity, you may be able to sell your judgment for cash immediately. A judgment buyer will make a cash offer for your judgment after considering the value of the real estate, deducting costs, and adding a margin for error.

The amount you can sell your judgment for varies, but it's generally up to 50% of the original judgment value. Be wary of judgment buyers claiming to pay more than 50% cash for judgments, as this is unlikely.

Identify judgment debtors with any knowledge you have about them, including names, aliases, addresses, ages, social security numbers, employment information, and relatives, to raise the value of your judgment.

Having more assets owned by the debtor increases the likelihood that judgment buyers will pay cash for the judgment. This means listing any property or businesses you believe the debtor owns.

Judgment collection can take a long time, so be patient and don't underestimate how long it will take to receive money from your debtor. Working with a judgment collection agent can improve your chances of getting your judgment sooner than expected.

You can expect to receive a cash offer for your judgment, but it's essential to be realistic about the price. A judgment buyer may offer you 50% or less of the original judgment value, depending on the debtor's situation.

If the debtor has a stable job and hasn't filed for bankruptcy, you might get a few cents on the dollar, but don't count on it being a significant amount. It's crucial to consider the debtor's financial situation before making a sale.

A judgment buyer will take into account the value of the debtor's real estate, deduct costs of enforcing the judgment, and add a margin for error before making a cash offer. This is a crucial step in the judgment collection process.

If the debtor has real estate with equity, you may be able to sell your judgment for a higher amount, but it's still essential to be cautious of offers that seem too good to be true.

To maximize your worth, it's essential to identify judgment debtors and gather as much information about them as possible. This can include names, aliases, addresses, ages, social security numbers, employment information, and relatives.

Having a clear picture of the debtor's assets is also crucial. List any property or businesses you believe they own, as this can increase the value of your judgment.

Patience is key when it comes to judgment collection. It can take anywhere from a few days to several years to receive payment, so it's essential to be prepared to wait.

Working with a judgment collection agent can significantly improve your chances of getting paid sooner than expected.

Judgment collection agencies typically charge contingency fees, which are a percentage of the total collected, usually between 50-65%.

These fees can vary based on the size of the debt and other factors.

If the collection process is lengthy or complicated, some agencies may charge hourly fees, typically between $100 and $300 per hour.

Flat fees are less common, but may be charged for more straightforward, lower-value cases.

Here's a summary of the fee structures you might encounter:

The filing fee schedule for certain documents in New Jersey is quite straightforward. You'll need to pay $35 for judgments, docketed judgments, and subordination, assignment, or postponement of judgment.

Here are some specific fees you should be aware of:

Checks or money orders should be made payable to the Treasurer - State of New Jersey. Attorneys may use their Judiciary Collateral Account to pay any fees.

Agency fee structures can vary significantly, but most judgment collection agencies use a contingency fee structure. They only get paid if they successfully collect on your judgment, and the percentage they charge can vary based on the size of the debt and other factors.

A contingency fee typically ranges from 50-65% of the total collected, so it's essential to understand the specifics of the agency's fee structure before hiring them.

Some collection agencies may charge an hourly rate, which can range from $100 to $300 per hour, but this is less common and usually reserved for complex cases. Hourly fees are typically charged when the collection process is expected to be lengthy or complicated.

Flat fees are also less common and are usually charged for more straightforward, lower-value cases. It's crucial to ask about all the costs involved, including hidden fees or expenses, when choosing a judgment collection agency.

Here are some common fee structures used by judgment collection agencies:

Most stocks trade at pennies on the dollar due to bankruptcy filings by the company. This can significantly impact the stock's value.

A company's poor financial history can also lead to a stock trading at a low price. If a company has consistently struggled to turn a profit, investors may lose confidence in its ability to recover.

The presence of other outstanding debts or judgments against the company can further depress the stock price. This can make it difficult for the company to recover, even if it's working to improve its financial situation.

Here are some common reasons why stocks trade at pennies on the dollar:

These factors can make it difficult for investors to recoup their losses, even if they buy the stock at a low price.