How does the process work?
First,
we enter into a purchase contract specifying the terms of the
assignment
of the judgment. Then, you legally assign your judgment to us through
the court. Once the assignment is filed with the court, we can then act
on our own behalf and take the steps
necessary to enforce the judgment.
Will I have to pay for the expenses incurred in
enforcing the judgment?
No. We advance the cost of all expenses incurred in the judgment
collection. We will petition the court to have the judgment increased
by the amount of any allowed expenses, such that the debtor ultimately
pays them.
How long will it be before results are seen?
This varies greatly. It all depends on the difficulty in locating the
debtor and the difficulty in uncovering their assets. In some
collections, results can be seen within 60 to 90 days. In other cases,
it can take much longer, sometimes years.
Is there any guarantee you will
be able to collect a judgment?
No. Sometimes there are simply no assets to seize. You can be sure we
will do our best, however, because we only get paid if we recover funds.
Is there a statute of limitations on collecting a
judgment?
Yes. In California, judgments must be executed on within 10 years. This
time limit can be extended by petitioning the court. In New Mexico, judgments must be executed on within 14 years, and this time cannot be extended. The
statute of limitations varies in other states.
Why shouldn't I use an attorney to collect a judgment?
You
most certainly can, if you are willing to put down a retainer, and
pay a fee of
between $100 and $350 per hour. If you wish to go this route, give us a
call - we know some very good collection attorneys and would be glad to
provide you with some names and phone numbers.
I'm interested! What is the next step?
E-mail us, call us at
951.676.1505 (in California) or 505.803.0449 (in New Mexico) or use our web submission form to get started.