Other than arranging for a hearing in front of TV’s Judge Judy, one can either collect the debt themselves or resort to a Judgment/Small Claims Collections Specialist. A fee of 50% of the judgment is the standard collection fee charged by someone in the judgment/small claims reclamation business. The legal status of the court rendered obligation to pay becomes a discounted note that the agent negotiates with the plaintiff. With a course you can do it yourself or for others.
3. They disclaim any warranties (expressed or implied), merchantability, or fitness
for any particular purpose. The authors and publisher shall in no event be held liable
for any loss or other damages including by not limited to special, incidental,
consequential, or other damages. As always, the advice of a competent legal, tax,
accounting or other professional should be sought. The reader is thus urged to consult
legal counsel regarding any point of law. This publication should not be used as a
substitute for competent legal advice.
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4. Contents
Introduction ............................................................................................................. 5
The Small Claims/Judgment Processing Agent ...................................................... 7
The Business In A Nutshell .................................................................................. 8
Finding Clients ........................................................................................................ 9
Judgment Enforcement ......................................................................................... 10
Criminal vs. Civil ................................................................................................ 10
Civil Procedures .............................................................................................. 10
The Wheels That Make Business Flow Cash ......................................................... 12
Charging A 10% Accrued Interest On Your Judgments ................................. 13
Overview Of A Judgment Recovery & Small Claims Arsenal Of Abilities ............ 15
Small Claims Recovery Business .................................................................... 16
Low Public Personal Profile by Operating as an LLC or DBA ....................... 18
Practices For Business Scaling Higher ............................................................... 18
Beginning a Judgment Recovery Business ........................................................ 19
Courses Material Topics Within a Judgment Recovery & Small Claims Course . 20
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5. Introduction
In a lawsuit, there are two parties involved: the plaintiff, which is the person(s) or
entity bringing the case to court. Typically, the plaintiff brings charges against the
defendant in an attempt to collect damages.
Financial, property, and emotional damages are assessed and the plaintiff sues
for that amount.
If the defendant loses the case, he or she is ordered to pay the
plaintiff by the court a particular amount of money.
When a debtor ignores a judgment, the creditor must take steps to claim the
money. So what can judgment creditors do?
The court system offers no recourse; once the judge makes a decision, the court
has no further responsibility. Some creditors turn to attorneys, but very few lawyers are
in the business of judgment recovery. The court DOES NOT ENFORCE COLLECTION.
Other than arranging for a hearing in front of TV’s Judge Judy, one can either
collect the debt themselves or resort to a Judgment/Small Claims Collections Specialist.
A fee of 50% of the judgment is the standard collection fee charged by someone in the
judgment/small claims reclamation business. The legal status of the court rendered
obligation to pay becomes a discounted note that the agent negotiates with the plaintiff.
Billions of dollars of court awarded money judgments go uncollected. Strangely
enough, the court is NOT in the business of enforcement. There is no debtor’s prison in
the United States.
The plaintiff who won the case generally doesn't know how to collect the money
that was awarded to them. Paying off the note may not be on the front burner of the
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6. losing defendant, and without proper prompting the debtor is very often not likely pay
up.
This is an opportunity to come to the rescue of the plaintiff if you’re looking to
get into this type of business or if you are owed and awarded money, this is how you
collect! The state gives you legal tools to collect. However, 99% of the people have no
idea how to go about getting things done.
Example: John is a nice guy. His co-worker buddy, Josephine, who is a
little short financially, finds a great deal on a truck and John lends the gal
$5,000. But, Josephine doesn't pay John back.
John takes Josephine to Small Claims Court and wins a judgment for
$5,000. But, Josephine still does not pay John back. Years go by. John does not
know what else to do.
John turns to you, or a Small Claims/Judgment Specialist for help if you
are a Judgment Recovery Specialist. You find out where Josephine lives and can
garnish her wages, take her truck or auto and get it auctioned off, put a lien on
her house, locate her bank and seize her money ... and a bundle of other tactics to
recover the money that is owed. As with most cases, a few well worded letters
and she’ll likely pay off.
You have the legal right to collect because of the court order to recover the
money and with the skills to do it, it is a routine matter.
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7. The Small Claims/Judgment Processing Agent
Who can benefit from small claims and judgment processing information?
For those who need to collect a debt judgment and need professional
enforcement of judgment ideas and procedures so they can collect what is owed
them.
Entrepreneurs who want to start a sustainable business for which there exists a
never ending demand and stream of customers
The Small Claims/Judgment Processing Agent will normally get 50% of the
judgment amount for every assignment, PLUS will charge for accrued interest + all
expenses. Realistically, one should be able to collect about 40%- 60% of those cases.
Judgment recovery is not "debt collection." This is because you have an actual
court order that says the person owes this money and you have a LEGAL RIGHT to
locate this money and/or assets and seize them. The injured party will
be thankful for collecting the debt that he or she had no knowledge
regarding how to collect. They will be grateful for the service.
The plaintiff who won the judgment, assigns their rights, title
and interest in the judgment over to the Judgment/Small Claims Specialist. You own the
judgment and will typically charge 50% (50% is the norm, lower % fees for larger
amounts. For instance, for a $4,000 amount one would charge 50%, for a $20,000
amount, a 40% fee would be appropriate) for your recovery skills. You collect the money
(plus interest and expenses associated with collection overhead) and hand your client
his percentage of the recovery.
This is Not Debt Collection, This Is Judgment Recovery. Every day, hundreds of
small businesses win lawsuits against individuals who owe them money.
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8. Businesses trying to collect a debt and individuals looking for resolution on debts
owed them get court-awarded judgments. Many are never paid. This is NOT debt
collection. It is enforcement of court-ordered judgments.
The Business In A Nutshell
Part of the business is getting leads and locating the debtors address. Another
part of the business is mailing appropriate requests and follow-ups. Then there is the
business about investigating and electronically locating where debtors bank, work,
property is located, sometimes file legal documents to get banks and employers to freeze
debtor's assets and get paid on what is recovered.
It is a business that is done by mail. One can remain anonymous behind a LLC
(costs about $125 to secure a Limited Liability Company status) or a DBA (doing
business as) identity. This is a business that one can:
• Earn $50,00 per year as a part time opportunity
• Work from home /Flexible hours /No weekends
• Duties include: database research, filling out simple forms, and
some typing
• Find unlimited number of leads ABSOLUTELY for free
Requirements:
• Must have own computer with internet access
• No experience, but a training course is necessary
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9. Finding Clients
Small claims range from $2,500 to $25,000 depending on the state. Public
records are documents or information which is not considered confidential. These
documents are publically available. They also include records governed by the Freedom
of Information Act (FOIA), which are accessible to the United States public.
As a small claims/judgment specialist, you'll be contacting people from a list of
names and addresses that you get from small claims courts all over the
country. The people you contact have been awarded a judgment by the
court and don't know how to collect it.
For every person you contact and contract with, you may be paid between $800 $2,500 or much more. Once trained in judgment recovery, you can expect to earn up to
$5,000 a month working part-time and in the neighborhood of $9,000 - $10,000 per
month or more full-time with no employees.
Documents related to small claims and judgment events are accessible directly
through local county clerks. The county clerk will be able to direct you to areas where
information is stores. You may also be able to find this information online as well.
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10. Judgment Enforcement
When a judgment decision is arrived at by the officials of a court of law, the
winner of the lawsuit is entitled to a money award. It may be small claims with only an
arbitrator or it may be a jury. As such, a jury may find that the defendant is liable and
decree that a certain monetary award be awarded to the plaintiff.
It may go the other way if the defendant is not liable and, in that case, the
plaintiff is awarded nothing. These decisions are made by a court ruling. Dependant on
the verdict, a defendant is acquitted or will be obligated to pay the amount awarded.
Note that there are both civil and criminal rulings through either a judge or a jury
and those rulings become legally enforceable.
Criminal vs. Civil
If it is a criminal case, enforcement can be a jail sentence and other penalties, and
when some of these penalties incur, the government authorities will enforce those
penalties.
Enforcement of a civil judgment is an entire another
matter.
The plaintiff has various options available for obtaining a
court award. One avenue is garnishing the judgment debtor’s
wages or if the debtor has property, to place a lien on it.
Civil Procedures
In following through civil procedures, there are certain actions that need to be
addressed in order to knowledgeably pursue collections. The creditor may request an
information subpoena. This is a legal document that requires the debtor to answer
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11. questions in regards to the location of all his or hers assets, all financial and banking
accounts as well as employment and wage information.
Since this is a court matter, the debtor must comply otherwise they will need to
appeal in court to explain why they did not provide the information. If they do not
appear in court, a contempt order will be issued by the court until this information is
provided.
With the debtor’s information at hand, the plaintiff can proceed and seize the
debtor’s personal property as a way of enforcing a money judgment. It is best to have an
authoritative judgment recovery guide at hand or rely on professional help to help aid in
recovery of a judgment court order. As previously mentioned, typical fees for judgment
recover are 50% of the court awarded judgment. For larger amounts above $20,000,
fees can be as low as 35%.
A court ordered judgment is worthless unless it is enforced. About 85% of legal
claims are not collected. Those court ordered funds from the
debtor need to located and seized in order to satisfy and
implement the judgment. With specialized knowledge and
training this process is available to someone who wants to put in
the effort.
When learning about this business, you’ll learn about how find your debtor’s
bank accounts, real estate, investment accounts, business assets, cars, boats, trucks, and
more and you’ll see how you have the legal authority to seize as much as required to
satisfy the obligated debts owed. When recovering money for clients, it’s usually just a
follow up sequence with letters, unless further steps are necessary.
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12. The Wheels That Make Business Flow Cash
You send out 100 solicitation letters to judgment
holders and you'd likely end up with 30 to 35 judgments to
collect.
Realistically, you'll be able to collect about 50%60% of those cases, depending on location. This means
you'd collect on 15-17 judgments.
Buying commercial account leftovers may offer different challenge. Blanket
purchases of leftover solicited commercial delinquent accounts affects collection
percentages. It may be lower since their clients have been hammered by letters and even
phone contact.
Doing one’s own legwork soliciting potential virgin judgment holder clients has
good rewards. It is more advantageous and one will have a better chance for a favorable
outcome.
Sending out letters to judgment holders is a percentage game; some will get a
response. The plaintiff who won the judgment, assigns their rights, title and interest of
the judgment over to you.
Figuring on winning a percentage of 7- 9 judgments at an average of $2,000
results in a $16,000 split with the plaintiff. This could be monthly goal.
After splitting with the clients, your $8,000 plus the accrued interest and
enforcement cost expenses for each judgment is yours. A course can show you how to
start by sending out 100 letters to get started.
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13. Charging A 10% Accrued Interest On Your Judgments
Judgments accrue interest (10% in most states). Which means, if you had a
$2,500 judgment, in three years it now is worth $3,375. The recovery agent has a legal
right to collect the full amount with accrued interest.
With the information you need to collect the claim on
behalf of a client, without talking to anyone and without any
confrontation or drama, has rewards. In this paper asset
recovery game, learning the research, sending out all optimized
legal collection requests and sticking to a consistent work
schedule will reward anyone so engaged.
A good judgment recovery investigator can easily research courthouse records
and find hundreds of promising judgments. The investigator then could even conduct a
quick assets check for the defendant and then offers to purchase the judgment from the
plaintiff. Because you have access to an exceptional state of the art electronic
investigative resources and skill, this area of work can become a hidden gold field.
Compare this business to another note business. For instance, purchasing
discount mortgage notes. Many get into this business thinking they can escape the
hassle of buying and flipping fixer-upper homes or owning real estate and have the
never ending duties of locating tenants and doing maintenance and upkeep for their
properties.
The expectation is that the borrower will refinance into a conventional type of
loan. For instance, if the borrower is unable to pay in full after 5-year note comes due,
the note holder can foreclose and take the home back.
This kind of profit center appeals to some, especially considering that they can
run it without using their own money, credit or hiring employees. The stakes are higher
but risks are high as well:
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14. Bad property valuations
High crime neighborhoods
Declining real estate markets loosing population or in the middle of no where
Lengthy foreclose process and other lien positions
Clouded title issues
Without a strong verification process and due diligence, one can lose sizeable
sums in the above note processing venue. Those variables cited entail a long, expensive
learning curve in the mortgage note business.
Small claim and judgment note processing, on the other hand, is tidy and quick in
comparison. There is little start up cost and it can grow into a 6 figure business and
beyond.
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15. Overview Of A Judgment Recovery & Small
Claims Arsenal Of Abilities
The business of judgment recovery requires some specialized knowledge
elements. This sequence of procedures, training and correspondence follow ups can be
obtained for less than $50 from: http://JudgmentRecoveryeCourse.com The Course
includes:
Getting Work Marketing Plan
Researching Case Files At The Courthouse
Summary Small Claims Court vs. Civil Judgments
Selecting a Case For That Extra Edge You Need To Win
Organizing Your Research
Your Research For Locating People
Your Research For Locating Assets
All Marketing Letters And Forms You’ll Need To Stand Out
Managing Your Cases - Client Interaction and Negotiations
Fee Negotiation, Contracts, Agreements And Assignments (Forms)
Contacts, Agreements And Assignments (Filings)
Post-Judgment Recovery of Interest and Expenses For Extra Earnings
Business Aspects Of Judgment Recovery
Locating Assets And People
Understanding Negotiations with the Debtor
Asset Recovery Methods
Collection Technicalities, Recovering Assignment Costs
There are all types of judgment recovery courses on the market, some even
costing in the tens of thousands of dollars for weekend seminars. There are some
expensive college courses available. As with anything, one can bloviate, stretch it out
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16. with CD's, DVD's endlessly. There is a never-ending variety of situations, however, the
basics are the same.
You'll quickly discover that the judgment recovery business has more judgment
claims available than any one person can comfortably handle. The financial rewards are
high and there is no growth ceiling. Once trained as a judgment recovery specialist, one
could expect to earn $5,000 a month working part-time or about $10,000 per month or
more working full-time with no employees.
The paycheck depends on a good work ethic and the income stream of cases
within their process system. Many are surprised with how lucrative judgment
contingencies can be. Just pump the handle of this pump up and down enough times
and the water flows out automatically.
Small Claims Recovery Business
It is disheartening for a plaintiff who, had to take someone to court over being
financially wronged, looks to get restitution on a maltreatment and the defendant
disregards payment. When one knows how the process works, there is relief in sight for
the plaintiff who can get his or her money for the awarded court
judgment. You will find a logical and appropriate routine to follow that
bears fruit.
Unfortunately for the plaintiff, the court does not administer the logical
procedure for collection. If you should facilitate accomplishing this, you become known
as a judgment rescue specialist and you could do it for others.
Judgment recovery specialist training facilitates that process even if money is
owed to you personally. If it is for a customer, the recovery specialist training will get
you on track to recover hard cash with honest regard and with credibility. This is
accomplished safe guarding the customer service user working relationship.
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17. The internet makes available courses that are inexpensive enough to gain skills
for anyone looking to collect on a debt or even to convert that knowledge into an actual
business collecting judgments or small claims cases. There are smart collecting practices
that help escalate the amount of money collected per hour effort. Filtering for best
practices and certain criteria results in a much higher recovery averages.
Levy on Wages
As for any young or older person who might be in debt, they are likely concerned
about their credit rating in lieu of nonpayment. That plays into the chance of a
successful money recovery and very often leads to victory. Credit score is a powerful
motivator.
In the event of forcing the issue, even a levy on wages is in fact quite easy to
enforce. As a judgment recovery specialist this might be much more welcomed by the
defendant or the debtor. A levy on wages poses no urgent threat to his or her lifestyle
and at the same time the debtor is capable of completely repaying their judgment debts.
Skip Tracing
Skip tracing, finding out debtors whereabouts, is a must to retrieving money.
Investigating past statistical evidence, in some areas, about 35% of delinquent debtors
move on a yearly basis. Statistics show that in some areas about 50% of the accounts
accepted for collection agencies have need of some form of skip tracing.
Google the term “skip tracing” and you’ll find many
tools and services that specialize in skip tracing. These
services provide critical data on key debtor information
such as current phone numbers, addresses, relatives,
associates, place of employment for low transaction costs. They find even unpublished
and even cell phone numbers, real-estate, work and business locations. These services
are affordable and enhance your entire skip trace undertakings.
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18. By taking advantage of certain proprietary resources, someone can make
improvements to appropriate party contact by 30%. This is accomplished by leveraging
data from 4 billion public documents on more than 200 million individuals. Time is
money and using a specialized service from time to time on difficult to locate defendants
is worth the extra cost.
Low Public Personal Profile by Operating as an LLC or DBA
The odds for collecting debts are fairly high when
you learn the right procedures. Also, one has the option of
remaining fairly anonymous. When one uses a DBA (doing
business as) title or an LLC and private post office box, your personal identity is
shielded.
A limited liability company, LLC, has many favorable tax advantages. It also has
much less administrative paperwork and record keeping than a corporation. It also
provides limited liability to its owners.
A DBA (doing business as) means that the trade name or fictitious business name
by which the business is conducted is not the legal name of the legal person who actually
is responsible. An assumed business name can be acquired by registering it with the
county clerk.
Practices For Business Scaling Higher
Debt collectors specializing in judgment
recovery can implement proprietary financial debt
recovery technology that greatly improves money
collections and, as a consequence, optimizes
functional overall performance. As the business
grows, using more costly technologies for collectors to
track down debtors quickly and with ease through
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19. credible debtor recovery solutions and certain cost effective online resources becomes
worthwhile.
As one progresses from a part-time to a full-time flow of clients, business
naturally grows. Economies of scale result from hiring associates as well as purchasing
other smaller debt collection services.
Beginning a Judgment Recovery Business
When one is confronted by a need to gain closure on a judgment for oneself or for
clients, one can learn and investigate a low cost, complete professional judgment
recovery business system at little expense. It also serves as a blueprint to develop a
doable income stream. Learn more at: http://JudgmentRecoveryeCourse.com
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20. Courses Material Topics Within a Judgment
Recovery & Small Claims Course
Step-By-Step instructions on how to set up the business and start it off running
coupled with invaluable ins and outs for making this business work is helpful. All the
methods, advice and tactics you'll need to fast-track this business should be gone over
and followed through. You discover how to set up your business and learn how to go
about marketing your business to a huge population of potential clients.
A good course will have all the pre-written forms, letters, customer contracts
you'll ever need to do business. Part of the course will include: Invaluable Cover Letter
and Agreement Form, Advisor/Agency Authorization Form, Sample Solicitation Letters,
Advertising Mock-Ups, Purchase Agreements, Writ of Execution, Assignment Order,
Debtor Profile Sheets, Earnings Withholding Order, Memorandum of Costs, Final
Judgment Recovery Letter, Instructions To Levying Officer Form, Community Property
Assignment Form
Smart office resources database for locating a debtor. In most states, judgments
are good for ten years. Accumulated assets are ripe for allocation using smart office
resources. Learn more at: http://JudgmentRecoveryeCourse.com
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