Who knows about the judgment collection process? It’s best to get your information straight from experienced professionals.
Do you understand the judgment collection process? If not, you’re not alone. However, if you win your case, receive a judgment, and need to collect, it’s important for you to understand the process involved in a judgment collection. A quick online search can give you the basics of the typical collection process, but it won’t tell you everything. And you can talk to people who have been through it, and even they cannot tell you everything you might experience.
The only way you can know the important details about your judgment is to work with a business litigation law firm. Here are three things you can only learn from your own experience with a local litigation attorney:
#1. The Expertise and Skills of Your Litigation Attorney
Not all attorneys are the same, and a litigation attorney will have different areas of focus and specialization. The unique skill set of your attorney is something you will only discover by working with them. References can tell you some things about them that can help you make the right decision.
When choosing your attorney, look for someone with extensive experience in your particular type of lawsuit. Judgment collection experience and services are also a plus and can only help you in the process of filing the suit, winning the case, and collecting the judgment.
#2: The True Timeline for the Judgment Collection Process
The judgment collection process can look similar even for different people and different lawsuits. The timeline, however, is unpredictable. You will read online and hear from people all kinds of estimates for how long it should take you to get a judgment and then get your money from the debtor. No one really can predict this because many different factors can affect the timeline for your judgment and that can affect how soon you get your money. Working closely with your lawyer or someone experienced in your type of litigation case is the only way to get accurate information about timing.
#3: The Final Amount You Will Get from the Debtor
Even when the court has awarded you a judgment and a specific dollar amount owed to you, that is not necessarily the amount you will get in the end. Many cases settle for less than the full amount to save time and attorney fees. Other factors can impact the dollar amount you collect including the wages, assets, and accounts the debtor has or will ever have. Your attorney will help you fight for every penny of your judgment, but only the two of you can determine what you’re willing to settle for and what you’re willing to fight a bit longer and harder to obtain.
For all the information and help you need with the judgment collection process, contact the Wilbanks Law Firm today.