Judgment collection agencies don’t automatically accept every case they are offered. Indeed, collection agencies assess cases on an individual basis. Each case has its own merits to consider. For their part, the collection agency wants to make sure it’s not getting into a situation in which a judgment is truly uncollectable.
Collections can be expensive. Likewise, collection agencies tend to cover their own costs throughout. So even if profit is relegated to a secondary position, collection agencies need to determine their own financial risks before taking on a case.
Every judgment collection agency has its own way of doing things. Judgment Collectors is no exception. We evaluate every case that comes our way. Those we accept result in an offer being prepared and presented to the client. If the offer is accepted, we get to work right away. However, there are things that need to be looked at during the initial assessment:
There is always risk involved when attempting to collect judgments. Financial risks are the biggest concern. Few things in the debt collection industry are as frustrating as investing a ton of money in collection efforts and never seeing a penny in return. That amounts to money down the drain.
We do what we do because creditors so often struggle to collect unpaid judgments. But each case we take needs to be assessed on its own merits. That is the way our industry works.
Published September 1, 2023