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Judgments are obtained after the client has sued the debtor(s) in court.
When SFS seeks to resolve a debt, and is faced with a highly-resistant debtor, we often have no choice but to involve the courts in order to secure a legal judgment against that debtor and then collect on our client’s behalf. In other instances, SFS works to collect existing judgments that have stubbornly resisted collection by the client and/or other collection agencies. Regardless of the exact role SFS plays in the process, we recognize that judgments are a powerful tool that, if leveraged correctly, can greatly accelerate the resolution of an outstanding debt.
Security Financial Solutions is one of a very few number of collection agencies with the experience and expertise to collect judgments fast. Much of our skill in this area stems from our extensive experience (and success) litigating credit card and other bank debt (See “Banking and Financial Services”). Not only are willing to absorb the additional costs associated with judgment collections, our advanced database network and other cutting-edge tools and tactics give us a significant advantage over our competitors. SFS’ advanced asset tracing capabilities are a case in point. Unfortunately, many “uncooperative” debtors, fearing a court judgment, go out of their way to hide their assets. Some of these efforts are highly-creative, some aren’t. But regardless, virtually none of them get past our team of agents and the advanced data gathering technologies we put at the team’s disposal. And because judgments are legally-binding for up to 20 years in some states, our team has the ability to monitor a debtor for an extended period of time and quickly identify changes in debtor’s financial circumstances. Red flags in new home or vehicle purchase are identified almost immediately by our team. We may even subpoena a debtor in order to have the individual appear in person and provide a complete picture of their financial situation. SFS always gives debtors the chance to right thing voluntarily, but will not hesitate to use the power of the courts to ensure that identified assets are seized and sold as way to satisfy the outstanding judgment.
Assets of particular interest to SFS include the following:
- Bank accounts (including overseas accounts), trust accounts, CDs, brokerage accounts and mutual funds (including money market funds).
- Real estate.
- Employment income and other sources of income.
- Motor vehicles, including watercraft.
- Business interests secured by stock ownership.
- Third-party assets.
- Any and all liabilities, including existing judgments and tax liens.
SFS is closely-affiliated with an expansive network of collection attorneys throughout the country who help us navigate the intricacies of collections law. Again, SFS fronts all costs, including outside attorney’s fees, associated with pursuing a case through the courts. Clients only pay when we collect (a reasonable percentage of the total amount recovered). And crucially, SFS tailors its judgment collections to meet the specific needs of our clients, and we confer as a team on all decisions regarding legal options before putting any strategy into play.
SFS has an especially strong track record in recovering money judgments associated with tenant-landlord matters. Click below for details.