What do you look for in a Judgment?

People call me with their judgments all the time.

1. I never ask right off about the size of the judgment, because I mostly don't care. If it turns out to be smaller than I want, say 2-4K, I'll still give them suggestions that will help them out. But for now, they need help, and I'll help them if I can.

2. I want to know what state the judgment is in. I've enforced in a lot of states, and some simply aren't good for this business. Life is too short.

3. I want to know who served the suit on the person. And where it was served. This is huge, and is so often overlooked. There are ways to challenge a judgment, and if they can, a judgment debtor will do precisely that. (Yes, I cover how to make sure the serve was "good," and if it's not, how to possibly get around it.)

4. I want to know if who the judgment debtor is and what the plaintiff knows about him or her. Sometimes the plaintiff won't tell me the truth, because they want someone to take the case, and they know the judgment debtor has nothing and their judgment isn't any good. So, I check out the judgment debtor for myself. (Yes, I cover that.) I want to make sure I don't waste time and money. And sometimes I'll check out the plaintiff too. Plaintiffs can be worse the many judgment debtors. Trust me on that.

5. I look for assets. And, I know how to find them. Then, I ask myself, "Which of these 6 enforcement methods will work in this case. Lien, levy, garnishment, till tap, keeper, or assignment order?"

If I can find no assets, then there's nothing to enforce, and no reason to take the judgment. (Yes, I cover all of that, too.) The last thing you want is something on your desk that isn't doable.

People sometimes ask me, "What percentage of your judgments pay off?" My response: "I don't chase anyone. Either they have the assets, or they don't, and I know how to find that out. Everything on my desk is considered doable. And I know each of the enforcement methods."

I also know that it doesn't take a lot of judgments to make good money. It just takes the right ones.

Questions? Let me know.

My very best to all here. Peter

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