What Is A Judgment?
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A
Judgment is a debt levied on an individual, business or entity by a
judge in a courtroom as a result of litigation. This establishes
that the judgment creditor proved to the judge or the court that
he/she/it was owed money from the debtor for services rendered or
property delivered to the debtor by the creditor.
A judgment can be
levied on many assets such as land, personal property and
automobiles. Most common are money judgments, for example when a
tenant breaks a lease agreement. As a result the property owner
takes the tenant to small claims court and sues for nonpayment. The
property owner is the plaintiff and the tenant is the defendant. If
the court awards the suit in the property owners’ favor, the
property owner is given a Money Judgment
In
the previous example, the property owner is the Judgment Creditor,
the tenant becomes the Judgment Debtor and the award of money owed
becomes the Judicial Judgment. The property owner has won the
Judgment but the courts do not collect the monies owed. The
collection process must be initiated and completed by the property
owner himself.
More than likely the property owner doesn’t have a
clue about collecting his judgment. In the beginning he may attempt
to collect the judgment, but eventually he writes it of as a bad
debt. For all practical purposes the property owner now holds what
he feels to be a worthless piece of paper
The
Judicial Process
When
the judge decides in favor of the plaintiff or defendant he will
issue a judgment ordering the losing party to pay a certain amount
of money to the winner, and usually court fees as well.
The person who has lost the case, and must now pay is called
the judgment debtor. The person who was awarded a money judgment is called the
judgment creditor.
The
judge will issue what is most commonly called an Entry of Judgment.
A copy of this will be filed in the case file at the
courthouse and another form, called a Notice of Entry of Judgment,
will be mailed to all parties involved in the case.
On rare occasions, the judgment debtor (usually the
defendant) will pay the amount ordered then and there and that is
the end of things, but 80% of the time the judgment debtor never
pays, leaving the judgment creditor with no recourse other
than to seek out your services.
Unless
of course the judgment creditor is familiar with judgment collection
procedures and does so through the legal system. That is
where we come in.
Code
Of Ethics
By
law, debtors are protected from public embarrassment and
undue harassment by creditors.
By and large, these laws are sensible compromises between
creditors' needs and debtor’s rights.
Although some of these laws technically apply only to debt
collection businesses and attorneys, it's best to follow them.
Harassing a debtor is usually both unnecessary and
counterproductive.
Using
our methods and techniques we rarely ever have a need to make
contact with the debtor and if we do, it is kept very professional,
polite and private (ppp).
Click
here your FREE judgment assessment today!
How
much is my judgment worth today?
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