It is no secret that collecting a money judgment takes time and effort. It also takes money. All the labor that goes into collection must be paid for. Judgment creditors also have additional expenses in administrative costs, attorney’s fees, and so forth. The question becomes whether attempting to collect in-house is really cost effective.
Every judgment creditor needs to figure that out for themself. Nonetheless, here is something we do know for sure: turning an unpaid judgment over to an organization like Judgment Collectors means immediately ceasing all related expenditures. We cover all our costs. We pay our people and fund our activities.
Letting us manage your judgment means freeing up your cash for more important things. You have more money to put back into marketing, product research, expanding current services, boosting your SEO, and even employee perks.
Time Is Money
The big thing with judgment collection is time. From the moment the court renders its decision to the day you get paid could be a matter of years. There is no way to know going into it. You might get lucky and discover that the debtor is ready to pay immediately. But you might also find yourself saddled with a debtor who has no intention to pay.
The less willing a debtor is to cooperate, the more time you will put into collection. Every minute spent on collection is a minute for which you are paying. How much will collection efforts actually cost? That depends on the salaries you pay. But wouldn’t you rather that money go into things that actually help grow your business?
When Judgment Collectors takes a case, your work is done. We manage everything on our behalf. We put in the time to look for assets. We take a look at wages and bank accounts. In other words, we do all the work. Your only responsibility is for us to collect so that you get paid.
Collections Don’t Bring in Revenue
It is important to remember that collections do not bring in revenue. Your products are services are what generate revenue. Collection is simply a time waster. It is not what your business is built to do.
It’s different for us because judgment collection is what we specialize in. Our company was set up specifically to help clients enforce judgments. So where collection is profitable for us, it does nothing more than drain the resources of our clients.
Here is how we see it: your resources are limited. You cannot afford to spend time and money chasing a debtor month-after-month. You have a business to deal with. You have customers that need your attention. So why not let us manage your outstanding judgment?\
Do What You Do Best
There are exceptions to the rule, but it doesn’t seem like in-house collections are cost effective. It seems like companies spend more time and money on collection efforts than they get back with actual payment. So they are spending more to get less.
It doesn’t have to be that way. In fact, we believe it should not be. A more cost-effective solution is to turn your unpaid judgment over to a collection agency that specializes in judgments. Judgment Collectors is one such agency.We work on consignment. That means we do not charge you anything up front. We provide a service that you only pay for if and when we succeed. That means you don’t stand to lose another dime by letting us have a shot at your judgment. Curious to know more? Reach out and let us talk about the case you’re working on.