A company makes the difficult decision to turn to civil litigation in hopes of recovering a bad debt. They win their case, resulting in a judgment being entered against the debtor. Now what? Management assigns the task of collecting to a couple of staff members in the finance department. But they know the likelihood of success is not very high. They need help.
Does this scenario sound familiar to you? Is your company struggling to collect on outstanding judgments? If so, professional help is available. We have experienced judgment collectors with the necessary skills, knowledge, and tools to help clients get the money they are owed.
We understand that debt collection isn’t easy. Moreover, judgment collection is not any easier just because a court has recognized the existence of a debt. As such, too many companies invest a lot of time and resources in judgment collection only to fail. We don’t want that for you or any of our clients.
Do you need help collecting on judgments? Here are four signs suggesting that you do:
Your company tries its very best to track down debtors and get them to pay. However, everyone involved knows that the company lacks sufficient resources. There isn’t enough time in the day to make a real dent. There is not enough money to hire new team members who can devote themselves entirely to debt collection. Worst of all, the company doesn’t have the investigative resources to find debtors and their assets.
Judgment collection is made virtually impossible without contact with the debtor and/or their attorney. If your team consistently fails to make contact, you could find yourself chasing debt for years without success. And where judgments are concerned, remember this: most states limit enforcement to between 7 and 10 years. A savvy debtor with experience in avoiding judgments could just wait you out until the enforcement period is over.
Our debt collection services are not in high demand among companies with a successful track record of chasing bad debts. What does your company’s track record look like? If it’s not good, perhaps it’s time to reconsider how you go about debt collection. Doing the same thing time and again while expecting the same results doesn’t make for good business. A track record glaringly void of success suggests that you need help.
The fourth sign that you need help is actually related to debtors rather than what your company is doing. Debtors who continue to dispute judgments with you are just trying to buy time. They are stalling in hopes that you will eventually throw up your hands and walk away. Trust us. We see this all the time.
A judgment is essentially a court order legally recognizing the existence of a debt. Once you have won a judgment against a debtor, all opportunity to dispute the debt is gone. It has officially been recognized by a court; that’s it. Continuing to dispute it is little more than a waste of time.
We have given you four signs suggesting that your company needs help collecting judgments. Whether it is one judgment or ten, our team is ready to get to work. We invite you to contact us if you need help collecting judgments in Arizona, California, Idaho, Texas, Utah, or Washington. We have experience navigating judgment collections in all of these states. We know all of the means available to us, and we use each and every one to collect.
Published September 13, 2021