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  #1  
Old 09-13-2005, 09:41 PM
GermanStar's Avatar
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Judgment Recovery

I've talked to a couple of these judgment recovery outfits and find their contracts disturbing. They don't want to buy the judgment, they just want it signed over to them with a promise of payment upon collection. I don't trust them as far as I can spit. Has anyone had a positive experience with one of these outfits, or can someone offer a viable alternative?
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Old 09-14-2005, 03:54 AM
Orkrist
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I avoid the law related posts anymore. If you have a judgment, you should consult with the attorney who helped you get it. If you did not get the judgment through an attorney, you should enforce the jusgment the same way you got it, research and leg work, and probably some paper work.
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Old 09-14-2005, 10:27 AM
Ta ra ra boom de ay
 
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In my limited experience with 'recovery' I've found it a lot easier to do localy than out of state. Are you dealing with a single judgment or do they pile up on you
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  #4  
Old 09-14-2005, 10:50 AM
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One very large judgment from 10 years ago against a Canadian Corp. and two Canadian citizens. It all happened in Pittsburgh, BTW...... They had no assets at the time, so I let it go, but figure it's time to have another look around.
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Old 09-14-2005, 11:23 AM
MedMech
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It depends on the state but if they are a court officer they can sieze property and auction it. My own experience has been very good and they have brought home money that business's owe that would normally be next to impossible to collect on.

collection agencies take a percentage while Judgment Enforcement is a ward of the court and usually collect the fee's when they seize the property.
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Old 09-14-2005, 01:43 PM
Ta ra ra boom de ay
 
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Quote:
Originally Posted by GermanStar
One very large judgment from 10 years ago against a Canadian Corp. and two Canadian citizens. It all happened in Pittsburgh, BTW...... They had no assets at the time, so I let it go, but figure it's time to have another look around.
The 'Corp.' part might be a problem. I think your best bet might be to get a new judgement in their jurisdiction... or use a lawyer local to them to negotiate a settlement as you would have significant fees and aggravation using the court from afar. I personally think the recovery services use an approach that can be accomplished by your own self with the same effect. They typically send about five letters in succession and make phone calls. I would contact a local… even if that means calling their local magistrate to find out what would be involved in pursuing a judgement before starting negotiations with the debtors.
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1986 300E 220,000 miles+ transmission impossible
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Reading your M103 duty cycle:
http://www.peachparts.com/shopforum/831799-post13.html
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  #7  
Old 09-14-2005, 01:55 PM
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Quote:
Originally Posted by A264172
The 'Corp.' part might be a problem. I think your best bet might be to get a new judgment in their jurisdiction... or use a lawyer local to them to negotiate a settlement as you would have significant fees and aggravation using the court from afar. I personally think the recovery services use an approach that can be accomplished by your own self with the same effect. They typically send about five letters in succession and make phone calls. I would contact a local… even if that means calling their local magistrate to find out what would be involved in pursuing a judgment before starting negotiations with the debtors.
The corporation is long gone. I'm going after the individuals, who reside in Canada. There is no point in transferring the judgment to Canadian court unless these guys have enough assets to make it worthwhile. I'm already about 25K in the red on this deal, and don't want to throw more good after bad. Hence, judgment recovery firms who do their own investigations at their expense, front expenses for legal issues and split recovered funds. I'm fine with that -- I just don't like the terms I've seen so far.
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Old 09-14-2005, 01:58 PM
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Quote:
Originally Posted by GermanStar
I've talked to a couple of these judgment recovery outfits and find their contracts disturbing. They don't want to buy the judgment, they just want it signed over to them with a promise of payment upon collection. I don't trust them as far as I can spit. Has anyone had a positive experience with one of these outfits, or can someone offer a viable alternative?
THe Italian collection agents seem to be pretty effective...

They make you an offer you can't refuse.

Unfortunately they end up being silent partners for life after that.

But seriously I would not trust any outfit that wants it handed over for nothing up front.....you have everything to lose and they have everything to gain....

IMHO
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  #9  
Old 09-14-2005, 03:38 PM
Ta ra ra boom de ay
 
Join Date: Jun 2004
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Quote:
Originally Posted by GermanStar
The corporation is long gone. I'm going after the individuals, who reside in Canada. There is no point in transferring the judgment to Canadian court unless these guys have enough assets to make it worthwhile. I'm already about 25K in the red on this deal, and don't want to throw more good after bad. Hence, judgment recovery firms who do their own investigations at their expense, front expenses for legal issues and split recovered funds. I'm fine with that -- I just don't like the terms I've seen so far.
Well the way I see it the only way you can get someone who doesn’t want to make good on a debt to comply is to have their local sheriff walk up to their property and start putting tags on it. The fact that they moved to Canada isn't very reassuring either but what have you got to loose?

One question to ask yourself in advance is how much is it worth to put it behind you? Would you settle for $5,000?... how about $500? If the debtor cuts a deal with the agent for $2,500 you get $1,250. To the agent this is a great deal he makes $1,250 and does not have to do any more work. You may or may not be satisfied by that. You can see that by pursuing it yourself you have a lot more room to negotiate. You can find a lot of info about people and their property on the Internet, for a nominal fee it’s even easier to get. You will also find that with a little sweet talking the magistrate’s assistant’s can be very helpful.

In the end it's in the agent’s interest to settle for whatever amount they can get. Just keep that in mind going in. And be ready to be underwhelmed by the results.
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-Marty

1986 300E 220,000 miles+ transmission impossible
(Now waiting under a bridge in order to become one)

Reading your M103 duty cycle:
http://www.peachparts.com/shopforum/831799-post13.html
http://www.peachparts.com/shopforum/831807-post14.html
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