Copyright (c) 2014 Mark Shapiro
Judgment leads and judgments may be gold or dirt, depending on who the debtor is, and also how well you screen the creditors. If you are selling or referring leads by using just court records, there is little chance of a typical lead paying off.
One of many judgment articles: I'm a Judgment Broker, not an attorney, and this article is only my opinion based on my experience in California, please consult with an attorney when you require legal advice.
When you talk to judgment creditors; confirm they want the judgment recovered, and that they know the creditor need to share any possible recovery, and their debtor is identified, and is not bankrupt or poor. When all these tests are passed, the judgment lead may pay off.
One might be able to sell average judgment leads, the choices are just pennies on the dollar per un-researched lead, or five percent of what may be one day be collected in the future.
If the judgment creditor believes their judgment is special and guaranteed, or the creditor will be able to sell their typical judgment at a fifty percent discount for a cash up-front sale, or doesn't agree to share a portion of what might get recovered over time; the creditor will almost never be any money for their judgment.
Don't fall into the trap of waiting forever, patiently waiting to find giant judgments against rich debtors having available assets showing. These are nearly as rare as four-leaf clovers.
A $3K judgment against a rock solid debtor having a bank account and a job is more valuable than a $1,000,000 judgment against a homeless old man with nothing, or a long dead company without any alter-ego possibilities.
A raw lead is often worth Nothing. Lots of uninformed folks send their inquiries about judgments to way too many companies/people on same day, and send their judgments to many of folks at almost the same day. Most people won't respond after you email or voicemail them, in response to their inquiry.
When you communicate with some judgment owners; many will tell you they are interested and intend to follow up, but few of them do. And of the ones who actually followup, many provide just a copy of their judgment; but nothing about their judgment debtor, or the reverse.
Of course, if the debtor has a unique name, maybe only a copy of the judgment itself is needed. When the debtor can't be identified, a lead is worthless.
If you wish to contact each lead ten times, that is your own business. From my experience, folks that begin by being unresponsive usually remain unresponsive over the long term.
To have a profitable virtual judgment enforcement company, you must screen judgment creditors to earn money. If you're going to outsource your judgments, you must learn how to correctly process raw judgment leads.
To screen does not mean looking creditors up on Google or any data services. To screen means to check the attitudes and beliefs the judgment creditors have about their judgment circumstances.
In my experience, you can't fix what is broken, you can just fix what your responses are going to be. It's smarter to invest your time on the folks who're responsive and reasonable, than to try to change folks that have a negative attitude, are clueless, or are unresponsive.
Try to remain friendly, and let the judgment creditor know you are (or know) the best solution, and they can get ahold of you anytime they're ready.
Article Source: http://www.abcarticledirectory.com
Mark D. Shapiro - Judgment Broker - www.JudgmentReferral.com - where Judgments go and are quickly Collected!
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