Optimization Of A Judgment Collection Business
I am not a lawyer, I am a judgment matchmaking expert (Judgment Broker)
. Nothing in any of my articles can ever be considered legal advice.
Many judgment recovery specialist know that success in the judgment recovery business depends on what you know, how hard you work, what you study, how well you screen judgment cases, how long you have been in business, and how well-funded you are.
This article covers improving efficiency in the judgment business, and ways you can spend more time on productive activities, and less time driving, standing in lines, and becoming frustrated.
One of the biggest time wasters is if Original Judgment Creditors (OJCs) waste your time, and then don't return your paperwork. Some contact you and explain to you their life's story, and what a SOB the debtor was, and then repeat themselves for 1/2 an hour, and later do not return the paperwork you sent them.
One solution is to start using a mobile notary in your business. When you hire a mobile notary to go to all your local OJCs, you can usually get a reasonable price for every notarization. A mobile notary delivers your papers, notarizes assignments, and returns or mails the papers back to you. This makes it easy for the OJCs, and helps to filter out the shoppers.
If an OJC does not want a visit (at their choice of time and location) from your mobile notary, they are probably not worth spending more time on. Better to mention your mobile notary service early in the discussions with the OJCs, to help prevent them from wasting your time.
Mobile notaries only serve a limited geographic area, which should not be a problem, because another way to be efficient, is to only work judgments local to you and the court. The days of remote control judgment recovery are almost gone. One solution is to hire more than one mobile notary, another is refer judgments not local to you to a judgment broker or another judgment enforcer.
Another way to improve efficiency is to hire an attorney service. Attorney services are not too expensive, and one does not have to be a lawyer to hire one. An attorney service visits your home or office each business day. They take your papers to the court, and pick them up when the court is finished, and return them to you. Some also visit process servers. Skipping parking costs and trips at the court and process server, saves you some money and considerable time too. Another way to boost efficiency is to start digitizing documents, and save them to folders on your (regularly backed up) computer. One easy way to digitize documents is to use an web-based fax service that emails you faxed documents as PDFs. You can fax your number, and save all attachments as PDFs and then store them on your computer. This results in less filing cabinets and less time doing filing.
Consider using a Macintosh computer if possible, or at least use a Mac when you can, because they are easier to back up and less trouble. Use free public record searches, for example Google or Bing, before you use paid searches.
Another way to improve efficiency, is to work toward not allowing flakes and time leaches to waste your time. When someone asks you, what is your phone number after calling you, or when they email you, asking for your e-mail address, it is best to keep communications short with such people. When an OJC calls you more than once, keep the topic centered on "please send me a copy of your judgment".
When you schedule judgment debtor exams, which are needed more than ever now, schedule them to save your time. Schedule examinations at the same court at the same time. It is better to schedule four judgment debtor exams at the same time, so the debtors must wait longer, and you visit the court once, instead of four times.
Do not save every e-mail you get. Many pro shoppers will e-mail one hundred judgment enforcers per day for a week. Whenever anyone e-mails you about their judgment, and you see the message was also sent to undisclosed recipients, consider deleting it. Such messages often end up in a bidding war for a difficult judgment.
Finally, most messages on judgment-related email lists and forums are not worth keeping, and some the brightest stars are too wordy. One solution is to keep folders on your computer with text or word files on each topic. If you find a useful post or e-mail, copy and paste it into a specifically named file. Edit out the fluff, and save only the useful parts, then save the file, and delete the original e-mail.
by: Mark Shapiro
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