Here at Judgment Collectors, we talk a lot about our research capabilities. It is one of the keys to what we do. We recently concluded a case we are working on behalf of a financial institution. It was the diligent research of our team that eventually revealed the debtor truly did have the financial means to pay the judgment against him. Because we uncovered that, we were able to convince the debtor to settle.
Many of the companies we assist work extremely hard to pursue debtors. Their work ethic and desire to collect is not the problem. They run into trouble only because they lack the resources and knowledge to track down debtors purposely trying to avoid payment. They turn to us because we know how to do the research. We also absorb the financial costs of doing so.
We Found the Assets
In this particular case, our client was hoping to collect by looking for assets the debtor had not revealed. After attempting, the financial institution contacted us. They knew that as a judgment collection agency, we specialize in doing exactly what they needed done.
After looking over the judgment and procuring a placement agreement, our team went to work. We dug around using every avenue we could think of. Eventually our diligence paid off. We discovered the debtor had recently sold a piece of out-of-state property. That meant there were sale proceeds that could go to paying the judgment.
We contacted the debtor to let it be known what we had uncovered. Being armed with this knowledge gave us the upper hand in negotiating. To make a long story short, the debtor really had no other choice when presented with the information we had. An arrangement was made to settle up.
We Know the System
As a company struggling to collect from nonpaying debtors, there is more to the story than the mere fact that we found assets and encouraged a debtor to pay. We truly want you to understand what we do and why we do it. We can summarize it in a single phrase: we know the system.
The person against whom a judgment has been entered has likely been unwilling to pay all along. Otherwise, there would have been no reason to go to court for the judgment. So right from the start, we understand that debt collection related to legal judgments is a dicey proposition.
We also know that the law gives debtors legal avenues to avoid paying. We may question the ethics of those avenues, but they are legal, nonetheless. Yet we also have legal tools at our disposal. We know how to use those tools to locate assets.
The System Makes It Difficult
Unfortunately, the system makes it difficult to pursue judgments when debtors are unwilling to cooperate. That is both good and bad. If collecting were too easy, it could allow collection agencies to run roughshod over the rights of consumers. But if it is too hard, debtors can avoid paying forever.
Needless to say, the system doesn’t always deliver payment promptly and with little effort. But you don’t have the time, resources, or knowledge to work the system like we do. That’s okay. No one expects that from you. You can expect from us, though.
We were thrilled to be able to help our client by finding an out-of-state property transaction yielding the necessary financial resources to make payment. Because our research team knew what they were doing, we were able to secure payment for our client. We can do the same for you.
Published March 15, 2021