Your Judgment
I am a judgment referral expert, and not an attorney
. My articles are my opinions, and not legal advice. If you ever need legal advice or a strategy to use, please contact an attorney.
It's your judgment! You were the person that was done wrong by the defendant. You were the person who had a legitimate grievance, and took your issue to a court. You're the person which the civil court agreed with. It was you who were awarded the court money judgment, to try to correct the wrong that happened to you.
No one should pressure you to do anything with your judgment, because it's your judgment. If you don't do anything, nothing happens, and that's your decision. You can wait several years, or try to do something about it now; it is your decision and choice.
Most people want to recover money from their judgment, and the laws and the economy make this challenging. Your plan or decision not to try to convert a piece of paper into cash is up to you. Most people would feel a lot better if they collected some money from judgments.
Judgments don't last forever, usually they die after a limited number of years, although most of the time they can be extended. There are many things one can do with their judgment, while you wait for your judgment to expire. You could keep it in your desk drawer. You could frame it and put your judgment on your wall. What is certain, if you want to try to use your judgment to recover money, that costs you money.
Even when you enforce your judgment by yourself, and do not share its ownership with anyone, you must spend money and time attempting to recover money from it. Because only the judgment debtor's available assets may be used to recover judgment money, recovery is not guaranteed, and there is no guarantee whatever you spend is not simply good money tossed in after bad.
It is your decision to retain ownership of a judgment if you hire an attorney to collect it. Most often, you need to pay them by the hour, unless you've got a big judgment and the debtor is rich.
You might find a buyer for a judgment, however this usually gets you only pennies on the dollar. When you do not want to spend money, you can get an average of half of whatever is recovered, if you assign a judgment to a judgment recovery specialist.
It is your judgment and it belongs to you, so why do judgment enforcers require you to legally assign your judgment to them? Because any person who is not an attorney cannot represent anybody else for any law-related issue including a judgment recovery.
To enforce judgments, one (that isn't an attorney or a collection agency) must own it completely. After one assigns your judgment, the judgment enforcer will own the judgment, and get the right to recover the judgment according to whatever the debtor's situation is, and the way they decide. Ultimately, whatever you do with your judgment, is totally up to you.
by: Mark Shapiro
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