5 Reasons why it’s a Bad Idea to Try and Collect a Court Judgment Yourself
If you are owed a sum of money, by a debtor who is not playing by the rules, it is natural to feel anxious and want to deal with the problem directly. However, there are some very important legal guidelines and regulations to follow.
Your debtor has rights, just as you do, and infringing on these (even unintentionally) can lead to even more difficulty recovering payments. So, if you are owed a sum of money, it is usually best to hand over collection to a professional court judgment recovery agent.
This guide to the main reasons why court judgment collection is the right option will help you understand its benefit
- It Provides Legal Protection
The primary benefit of professional judgment collection is that stops you from being liable for collection techniques. Now, you do want all financial judgment recovery actions to be completely lawful and authorized. But, you might not be sure on what constitutes ‘authorized’ action,’ so handing over responsibility to a third party means that all recovery processes are legal and above board. This is an essential part of successful judgment collection.
2. Gives You Access to Resources
Unless you have the kind of connections that professional judgment recovery companies have, you will not be able to do the job better. If your debtor leaves town, a judgment collector can call on private detectives and other key resources to track them and make sure that the outstanding payment is not lost. They can keep tabs on the debtor and make sure that they are not using your money to buy luxury items.
3. Frees Up Your Time
Chasing missed payments is not easy. It takes time and a lot of patience. For lenders, this can lead to frustration and anger. It makes it difficult to look at the situation from a calm and rationale perspective. It also takes precious time away from other financial duties, which is the last thing that you want if you have already lost money. With the support of Financial Judgment Recovery, you can leave the stress of collection in the hands of a reliable agent.
4. It Offers the Best Advice
If a judgment has been filed and you have been given leave to enforce payment, it is still worth taking some time to think about the best strategy. Yes, it’s tempting to head straight for the harshest possible action, but this is not always the most effective option. All debtors are different and they all handle judgments in a different way. Use your Financial Judgment Recovery as a source of advice on how to proceed. What should the first step be? Is it worth approaching the debtor and trying to solve the issue in a friendly way first?
5. The Best Chance of Success
For all of the reasons outlined above, professional judgment collection offers the best possible chance of success. If you are serious about recovering your lost loan, in the right way, this is the most practical and effective option. Choose a judgment collector that is reputable, reliable, and genuinely interested in helping you to settle the issue.
This article is my opinion, and not legal advice. I am a judgment recovery expert, and am not a lawyer, If you ever need any legal advice or a strategy to use, please contact a lawyer.