What is the Judgment Recovery Business?

WHAT IS THE JUDGMENT RECOVERY BUSINESS?
The Judgment Recovery Business is an opportunity for
enterprising individuals to earn a very good living
enforcing court money judgments. The general methods by
which they collect court judgments are the same state to
state. But some of the details of state laws make these
collection methods just a bit different. As in any
business, it’s best to know the details of your state laws.
The judgment recovery specialist “takes assignment” on
judgments before he or she enforces them. That means that
the judgment is actually transferred into the judgment
recovery specialist’s name, usually through the same method
by which any considerable asset, such as real property, is
lawfully transferred. At that point the judgment recovery
specialist is the new creditor, and is thereby standing in
the original creditor’s shoes.
Once the judgment recovery specialist has “taken
assignment,” he or she can then perform all the operations
they are streamlined for: pulling credit reports, conducting
investigations, bringing the debtor back into court for
extensive examination, seizing property, putting liens on
homes, garnishing wages, and so on. As you can imagine,
these methods can be very powerful. If the debtor has
assets, it the job of the judgment recovery specialist to
locate these assets and seize them.
Judgment recovery is one of the least expensive businesses
to start up. If you already have a computer, then the
start up costs are little more than purchasing the best
Judgment Recovery course you can find, then setting up other
parts of your office, and getting access to crucial
databases where you can uncover judgments and locate assets
of the judgment debtor. Yes, the costs are minimal, but
there are up front costs and continuing operation costs.
Because judgment recovery is a simple and relatively
inexpensive business to start up, many people believe that
they can go into business with almost no cost at all. This
is a mistake, as with any business. Also, because there are
websites touting the millions and even billions of dollars
that can practically be picked off trees, many new people
start a business with foolish and unrealistic expectations.
They are then in and out of the business very quickly.
Questions: Is judgment recovery an inexpensive business to
start? Definitely. Are the court money judgments out
there to be collected? Absolutely. Is it “easy pickens?”
Hardly. Whatever business you choose will take 1) time, 2)
effort, 3) study and 4) growth in your experience. Whether
we are cooks or cops, accountants or judgment recovery
specialists, we get better as was learn. And much of what
we learn is in the doing itself, and through the few good
mentoring groups available. You want to make sure you are
successful at judgment recovery. Laying the groundwork for
your success begins by researching the learning
opportunities available to you, and checking each and every
one.
There are several judgment recovery courses that offer
training and ongoing mentoring. Obviously not all courses
are equal. If you are industrious and persevering, then by
all means check out the judgment recovery courses available.
Call the authors or the managers. See if they are
available. Make sure you’re dealing with professionals who
actually do the business, and who can offer excellent
mentoring support.
Good luck!!