subject: The Pros And Cons Of Using A Judgment Broker [print this page] If you want your judgment purchased or collected without paying anything, you need to find either a judgment purchaser or a contingency recovery answer. There are 2 ways to find these solutions, either from a referral expert or advertising.
Judgment brokers refer judgment owners to judgment solutions. Is it a good idea to use one, or are you better off with a web search? This article is my opinion and is not, legal advice. I'm not a lawyer. If you ever need a strategy to use or legal advice, you should contact a lawyer.
When you use the web, each judgment purchasing and recovery entity or person asserts they're the best. Broker know the history of many judgment buyers and recovery solutions. They know the judgment business, and who will get creditors paid. If your judgment debtor is poor, no one will purchase, or likely have success recovering your judgment. If your judgment debtor has lots of available assets, judgment brokers can find you a better offer than one could find with any www search. When you choose a broker, make sure to choose one who:
1) Doesn't have any paperwork for you to sign, except when the broker refers you to an attorney, one who will be a contingency judgment collection attorney right for the judgment debtor. When a broker is not referring you to an attorney, the broker should simply refer you, without any paperwork.
Lawyers cannot pay referrals to non-lawyers. When a judgment broker isn't an attorney, they must work out a deal with any contingency lawyers they refer judgment creditors to; to slightly reduce their contingency charges. The judgment owner and judgment debtor checking the broker performs, makes most lawyers willing to discount their contingency rates a bit. When referring you to an attorney, a broker asks you to pay them what they saved you, only if you are paid. That's fair, and does not cost you anything.
2) Does not own your judgment. Beware of assigning the judgment to a entity or person that does not tell you exactly why that is required. A broker hasn't any business owning any portion of the debt or judgment.
3) Refers you to experts, based on their first-hand knowledge of the best professionals to buy or collect specific judgments. The good judgment brokers are objective, and know thousands of judgment buyers and collection experts, and tracks their performance with a database.
A good broker knows who can get a recovery or purchase done, and who usually flakes. Beware of brokers who refer you to their friends or their own staff. Some companies say they are objective, yet they refer creditors only to their insiders.
The best judgment brokers aren't intermediaries, and are free for judgment creditors. Brokers get paid by judgment buyers and recovery professionals. Brokers cost judgment creditors, and offer a more direct and faster way to get the right judgment solution. Not using a broker, it usually takes a lot longer to find a solution - and likely not as good of a solution. Judgment judgment owners will get the same amount of money for a judgment, whether they began using a judgment broker or not.
Judgment brokers are judgment referral professionals. You don't need a broker, however they save you hassle and time, with solutions in the real world, based on knowledge and expertise, rather than by chance.
