How To Make A Judgment Recovery Business

How To Make A Judgment Recovery Business

How To Make A Judgment Recovery Business

I am not a lawyer, I am a judgment valuation expert (Judgment Broker) and this article is about how to operate a judgment recovery to recover court judgments. Judgments are not just debts, they are final orders of a court. Because laws and courts do not help people (and make it easy to) enforce judgments, and because judgment recovery requires skills and/or cash - most people require help in collecting their judgment cash. The challenge of recovering most judgments has started a large (always expanding and changing) judgment recovery business. People or companies who enforce judgments are known as Judgment Enforcers (JEs). JEs include regular people, process servers, Private Investigators (PIs), lawyers, collection agencies, and companies which employ or hire PIs and lawyers.Most JEs are not attorneys, they are smart people who study, learn civil laws, and practiceprocedures. Most get judgments assigned directly to them, so that they become the legal owner of the judgment, and can then recover it by representing themselves (a 6th Amendment right) in post-judgment enforcement actions court actions. In most places, a corporate entity may not represent itself in court. For that reason, and several other reasons, most JEs do not form corporate entities. However, some JEs do form corporate entities, as discussed below.Some states and courts are not friendly to pro pers (propria persona, Latin for those representing themselves in court) enforcing judgments they own now, but did not own own originally. In certain courts, non-lawyer judgment enforcers are denied their Sixth Amendment rights to enforce judgments they own. How can one run a judgment recovery business in hostile courts or states? Part of the answer depends on possessing a lot of start-up money, which is good to have when one starts any business. Judgment enforcement is a business which usually runs at a loss for several months (or more). To start a Judgment Recovery business anywhere, even in a location or court hostile to your (6th|Sixth) Amendment rights, you should have an office, and hire attorneys (to sign all documents and appear in court) and Private Investigators (to perform skip-tracing and asset searches). You also may wish to form a corporation or LLC, which is now an option, because you will not appear in court. Setting up a JE business as a corporate entity is a more costly way to start and run a JE business. With a corporate entity, It will be more costly for each judgment collected. You must share your (e.g.) 50% potential gross profit with the attorney and PI, for office leases, etc. However, you can now invest your time getting more business while the attorney and Private Investigator do most of the difficult work. You may prefer to work your Judgment Enforcement business this way, rather than doing everything yourself.You can be a sole proprietor, or create your own corporate entity, and be an officer or employee in your own company. You can be the manager and find judgment leads and screen them. You may choose to take assignment of judgments in your name, or not, it's your choice. If you take the assignment, you own the judgment, and your lawyer works on your behalf. The lawyer must be authorized to practice law in the state where the debtor's assets are. In such a way, you are not performing any collections yourself, so I assert you can collect in any state. If you do not take assignment of the judgment, the Original Judgment Creditor (OJC) remains the owner of their judgment and "your" lawyer represents the OJC to recover their judgment. You must work out an agreement with either the OJC and your lawyer (or both), to make sure you will be compensated for being the manager and making possible the magic (the OJC getting some or most of their judgment money back) happen. If you can locate the right lawyer, willing to work for you, you can bypass collection agency requirements and hostile states and courts because you are never going to show up in court or communicate with the judgment debtor.To run a judgment collection business this way, you need to find the right lawyer which may take some time. If you do most of the tedious planning and background work, and talking with the OJC, you may be able to convince a lawyer to discount their rate for you. I am not an attorney, and you should ask an attorney if my advice in this article is correct in your County and State.

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