Judgment recovery is the process of collecting money from debtors who have been commended to pay a creditor by a court.
In some cases, the debtor, or entity called to pay the damages, will hide their assets, refuse to pay, or disappear to avoid payment. Creditors, the entity to whom the money is owed, may not see their money right away or even at all, depending on the case. A private investigator with judgment recovery experience can uncover hidden assets in order to recover the debt that is owed.
A writ of execution is a judicial order granting the enforcement of a judgement obtained by a court official. If you were to issue a writ of execution, the court will order a sheriff or court officer to take possession of property or assets owned by the debtor. After the assets are seized, they are sold, usually at an auction or sheriff’s sale, and the proceeds are used to pay off the debt.
If you have been awarded a judgment in court, the debtor is required to pay you. The only exception is if they win an appeal by proving they do not have the necessary funds. There are various legal tools available for creditors to use in order to recover their money, including garnishment of wages, forced sale of assets, repossession, seizure of bank accounts, evictions and more. A private investigator can get you the information that will allow you to take action. They also have access to resources that allow them to quickly and accurately locate missing people or assets.
In order to convince a debtor to pay their debt, an investigator can uncover:
A lot of people don’t realize that a court judgment is only an official note stating that a debt is owed by law. The court is not responsible for actually collecting the money owed. While courts can award damages and demand that companies or individuals pay you, they cannot compel the debtors to physically give you the money. Hundreds of judgments are awarded daily across the country, but up 80% of these judgments are never collected. Once you have been awarded a judgment, you have ten years to collect unless you apply to have the judgment renewed. Your judgment can collect interest, but the longer you wait the more difficult it is to recover what you are owed.
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