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Why Judgment Settlement?

April 21, 2012 | Comments: 0 | Views: 193

I am the nation's only Judgment Broker, and I am not a lawyer. My articles are my opinion, and not legal advice. If you ever need any legal advice or a strategy to use, please contact a lawyer.

When people first win their judgment, they are often very confident that their judgment can be sold for big bucks, or will quickly be collected in full. That confidence usually fades fast when they face the realities that make judgment recovery difficult. For the debtor, settling a judgment saves them money and hassles, and gives them peace of mind.

The main reason for a creditor to settle a judgment is when they are convinced that they are not likely to recover most, or the entire amount due. The reasons to be convinced of that become apparent, after they do an adequate job of investigating the judgment debtor and their circumstances. Seven popular reasons to settle a judgment include:

1) You cannot locate enough, or any, of your judgment debtor's available assets. Due to laws, many assets (e.g., social security, disability, pensions, tools used in the business of the judgment debtor, etc.), are off limits.

2) There does not seem to be any way the debtor can or will, be able to significantly repay the judgment.

3) You would rather get paid some money now, than gamble on perhaps being paid something in the future.

4) Recovering the judgment might push the debtor into bankruptcy. For example, if the judgment debtor recently got a chunk of money, and other than that, they are not doing well at all. You know it would take many years, with a risk of them going bankrupt, to possibly recover in the future, so you decide to settle now.

5) There is a legal flaw in the judgment (e.g., the judgment debtor's name is not spelled correctly), that could make the judgment difficult to recover. You might try to settle, before the flaw is discovered by the judgment debtor.

6) To avoid the expenses and hassles of recovering a judgment. Most judgments sell for less than 5% on a cash up-front basis. Pure (future payment) contingency recovery specialists usually charge 50% on average judgments. It costs time and money to recover a judgment, so settling can make sense.

7) You feel altruistic and want to try to put this behind you, and perhaps even want to help your judgment debtor, by settling.

If you think it would be advantageous to settle with your judgment debtor, go for it. Some debtors do not pay after settlements, so make sure your debtor proves to you that they have more than enough sufficient assets to settle with you.

The latest versions of the best judgment articles, with search, is at http://www.judgmentbuy.com/JudgmentArticles.html

http://www.JudgmentBuy.com - Judgment Enforcement. The free, easiest, fastest, and best way for the best chance to get money for your judgment.

Mark D. Shapiro, the free judgment matchmaker. We have the best free judgment referral leads for enforcers, judgment buyers, collection agencies and contingency collection attorneys.

Source: EzineArticles
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