How do you make hiring an attorney for judgment collection as affordable as possible?
Hiring an attorney for judgment collection is one of the most affordable ways to collect on a debt. Ironically, people often hire lawyers to handle other issues when they’re not needed and ask them to do senseless work that only wastes money. One of the most valuable legal investments you can make is in judgment services, and it’s underutilized.
Keep reading to learn more about the benefits a professional judgment collector provides.
Lawyers Take over Communication
By the time you’ve secured a judgment against someone, it’s safe to say all communication between you has broken down. When you’re past the point of being civil, it’s best to have everything go through a lawyer. Not only does this cut down on harassment and protect you from false accusations; it creates a permanent and trustworthy record of the case.
When your debtor says, “I can’t pay today. I have to go to work,” they create evidence of a job. This opens the door to wage garnishment and uncooperative disclosure orders. Your lawyer might also be able to offer options you would be unable or unwilling to handle yourself based on principle.
Lawyers Establish Payment Plans
Did you know most collection agencies buy debt for four cents per dollar? It’s tempting to sell off a judgment. The last thing you want to do after winning a judgment against someone who defaulted on a payment agreement is set up another one. Taking payments would complicate your books and leave you frustrated.
With a judgment collector, you have better options. Hiring legal representation in debt management to handle payment plans really pays off.
Lawyers Secure Garnishments and Liens
Some debtors won’t willingly make good on their debts, regardless of the opportunities you give them. At this stage, legal assistance helps you place a garnishment on their wages, so you get a little money every time they get paid. There are state limits on how much you collect per check – and how much a group of creditors can collect too. It helps to get your claim in as early as possible, just in case there are multiple companies wanting to file.
Lawyers can also file liens against property. These attach to the title of a home, for instance, so whenever it’s sold, the debt becomes part of the purchase price. You might have to wait several years for payment, but you’ll recover your money eventually. In certain cases, a legal team can help force the sale of a property in order for debts to be settled. You’ll want to speak with an attorney for judgment collection for more information on aggressive lien enforcement.