Chris Lane here Founder of Financial Judgment Recovery. I’m noticed a lot of those that have been ordered a court monetary judgment have a difficult time collecting on them. Most are not even sure where to start with the process so I wanted to take some time and prepare a Series of Videos to assist those with the process and hopefully be able to get back some of their funds that’s rightfully owed to you.
If you have won a court judgment either small claims or civil then the court has ordered them to pay you. The downfall though the court doesn’t do this process for you it’s up to you to enforce your judgment. A judgment is not collectible until after the time has expired for the debtor to appeal the ruling. Generally this is a 30 day period, but can vary in different states and counties. After the allotted time has expired then you can proceed with collecting on your awarded judgment. If the debtor fails to pay the amount owed immediately, then you can then collect through various avenues to satisfy the court judgment. In most states a judgment is valid for 10 years once awarded, but does vary from State to State. If it does expire and you were unable to collect within the allotted time frame you can then renew the judgment, check with your court you won the case in for exact details.
The first method I’d like to introduce to you is contacting the debtor yourself. You can write the debtor a letter to try and convince them to pay, when you do that make sure to give them an address to send the payment along with different payment methods you will take, if you accept credit cards then let them know. If you’d like to set up a payment plan with them include the terms you feel would be feasible to you. Make sure to always keep everything in writing as you can have a record of all correspondence.
If they chose to pay it all in one lump sum advise them you’ll waive the interest that’s accruing everyday, but if they elect payments then you can’t waive the interest. Sometimes this entices them to pay it all at once versus to you having to worry about it each month of if and when they are going to pay.
Once you have collected all the funds make sure to file a an Acknowledgment of Satisfaction of Judgment with you court the judgment was awarded in. In most areas this form can be accessed via online at your courts website or just drop by the clerks office and let them know what you need.
Make sure to mail a copy to the debtor, file a copy with the court and keep a copy for yourself
If you fail to file an Acknowledgment of Satisfaction of Judgment, or fail to notify the debtor by sending them a copy, you could be liable for any damages suffered by the debtor.