Buying Judgments

Judgment buyers prefer to buy judgments that look easy to recover. An ideal one is against a wealthy person or company with no other judgments or debts; owning lots of assets such as properties, expensive cars, boats, or planes, with no prior loans or liens on them. Unfortunately, few debtor situations are like that.

Before you buy a judgment, you should learn a lot about the debtor’s situation, and verify they have not filed for bankruptcy protection. This article is my opinion, and not legal advice. I am a judgment broker, and am not a lawyer. If you ever need any legal advice or a strategy to use, please contact a lawyer.

There are many reasons to buy judgments with a single one-time cash upfront transaction. Cash upfront sales have several advantages, including no need to share any possible recoveries made, or having to listen to original judgment creditors. You also get the freedom to make a quick profit; and move on if you choose to, not having to answer to anyone.

Another big advantage of cash upfront judgment sales are that they are accepted in almost every court. In some states, courts, and with some judges; assignees of record enforcing judgments with future payment agreements to buy the judgments, are not allowed post-judgment recovery actions in courts.

One of the best reasons to buy a judgment, is to attempt to quickly settle the debt with the debtor. You can attempt to politely contact the debtor, and offer to settle the debt in a way that saves them a lot of money, yet leaves you a good profit opportunity. The goal is to make a reasonable profit soon, rather than beginning the usually long and expensive recovery process to attempt to enforce the judgment. Other reasons to buy a judgment are to later attempt to resell or recover it, without needing the debtor’s cooperation.

The best way to buy a judgment is to buy it cheap enough so that you have a good chance to make a profit, either by settling or enforcing it. The problem is that most judgment owners dramatically over-value the actual market worth of their judgments.

Experienced judgment buyers pay between 1% and 3% for average judgments, when the debtor does not seem to have any obvious way to repay even part of the judgment. When debtors have assets, sometimes buyers will pay more. Because a bankruptcy filing can instantly make most judgments worthless, is the biggest reason nobody pays a lot of cash upfront for judgments.

When you buy a judgment, you need to have the seller notarize their assignment of judgment to you; and sign your purchase agreement, to buy their judgment. Do not pay much, until the judgment has been assigned to you, and that assignment is recorded in the proper court.

If your debtor will not settle, then you can begin the often difficult and expensive path to attempt to recover your judgment. When you collect a judgment that you purchased, keep in mind that recovering every dime is not as important as locking in a quick profit, and moving onto the next purchase.

If you get paid, you must satisfy the judgment with a notarized satisfaction of judgment stamped by the court, and mail the judgment satisfaction to the former debtor. Keep a copy of the court-stamped satisfaction for your records.

Debt Relief Advice – A Free Guide For Finding Top Debt Relief Programs Online

It’s no secret that the United States is in a bad state as far as the economy. With this recession many things are changing and finding debt relief programs is even a bit tedious. Having to deal with the overall pressures of concern, worry, and stress people are even more paranoid about debt.

There are many debt relief companies however, and many that want to offer assistance to those individuals that need debt consolidation, elimination, and relief. In addition, these relief companies can also give some different ideas and concepts to the point that a person who might think he or she needs to file for bankruptcy could see other alternatives and options.

With so many options to choose from there are a few tips you can go by:

• Determine if you can to find out if you actually qualify for the relief services. Check over your finances and regardless if it is for consolidation or debt settlement for lenders you want to check on to.

• Next create a checklist of your conditions and evaluate a debt relief company, and remember not to go with the first one.

• Ask yourself a few questions too, for example, is the agency legitimate and is it regulated by a debt settlement agency. Are those employed with a company dedicated to assist you or do they really not care? Does the firm you choose have a good client customer service reputation?

• Can the agency offer you assurance perhaps the program doesn’t meet up to your expectations?

• Does the company provide you with a variety of settlement options that are suited to meet your needs? And lastly are the company’s clients and customers happy with the assistance they have been given.

These are all good points to consider when you are looking for the right company to choose from.

If you are considering getting a debt settlement it would be wise to utilize a debt relief network instead of going directly to a particular settlement company. The top debt relief networks only allow debt settlement companies into their network who have a proven record of successfully negotiating settlements. They must also pass an ethical standards test to ensure they are properly conducting business. Debt relief networks are the most efficient way in locating the best debt settlement companies.

Avoid Bankruptcy With Our 10 Top Tips

Many people want to know how they can avoid bankruptcy, it can be a difficult question to answer, especially when you have to consider the individuals unique circumstances. This article is going to try to give you the ten best ways to help you avoid filing for personal bankruptcy. This advice is just that, it’s not legal advice and it certainly shouldn’t be relied upon. You should seek qualified legal advice before making any decisions about your debt.

1. Ideally you need to increase the amount of money you have available to you every month. The best, and fastest way is to get a second job. You will only be able to take a second job if your full time job allows this. Even if the part time job only gives you two hundred dollars a week, that mounts up to 800 dollars a month, this will go a long way to reducing your debt. Write down all of the debts that you have, put the ones with the highest interest rate at the top as you will aim to pay these off first.

2. You must stop using your credit cards, they are the source of your trouble. If you can bear it then cut the cards up so that they can never be used again. Failing that you could give them to your wife. A credit card is however good for emergencies, you should keep one, just one mind!

3. Take a look at all of your assets and decide which ones are worth the most. Normally people don’t realise just how much the things they own are worth.Houses are scarce goods and so appreciate in value, this appreciation may help in reducing your debt.If you cannot cover all of your debt by taking out a second mortgage then don’t consider using this step, it’s only worthwhile if you can pay everything off.

4. Unfortunately cars are not like houses, 99% of cars depreciate in value. If your car is still worth something then would you consider selling it? Of course you will need a car, so buy a cheaper car. Just remember that you do get what you pay for. Paying for something too cheep could be a really big mistake.

This is by no means a concise guide to reducing your debt, these are simply a few possible solutions to your debt.