Judgment Collectors uses dogged determination and technology to find assets owned by a debtor and to seek a mutually beneficial resolution. Below are some examples of solutions reached by Judgment Collectors:
PROVEN RESULTS, SATISFIED CLIENTS.
We owned an interest in a judgment owed by a manufacturing company. For years they had told creditors that they could pay little or nothing on their debts because the company was not making any money. Once we got involved we determined that their financial statements were being kept on the accrual basis and one of the reasons for the apparent lack of net income was interest expense being accrued on debts to related parties. After the amount of interest was added back to their income we were able to come to a settlement where a substantial amount was recovered for the judgment holder.
HANGAR DISCOVERY LEADS TO SETTLEMENT
We were collecting on a judgment where there had been no activity for some time. Just because there has apparently been no action on case does not mean that we have given up. We checked real estate records and found that the debtor owned an airplane hangar in a different county close to his primary residence. Soon, we noticed the hangar was up for sale. We contacted the debtor and had his full attention with the new information which led to a favorable settlement of the matter.
We were engaged to collect on a judgment owned by a bank. We found real estate owned by the borrower. While there was an option of putting the property into foreclosure to collect funds, we worked with the debtor to come up with a repayment plan that was workable for them while providing recovery of the debt.
FOUND RECENTLY SOLD ASSET
After we are hired to collect a judgment, we search all over the nation not only to find assets owned by the debtor. However, we also search to see if they recently sold any assets as the proceeds from a sale can be used to make a payment. We recently found that someone who owed money on a judgment we are collecting sold property in Alaska. Armed with this knowledge, we were able to negotiate a settlement of the debt. Knowing what a debtor has is a key part of our collection strategy.
Disclaimer: These include situations worked on by Judgment Collectors principals prior to their joining Judgment Collectors.