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Collecting judgments can be a frustrating experience for individuals and businesses alike. Ironically, it is often far easier to obtain a judgment in a court of law than it is to collect a judgment from someone ordered to pay one.
Many people think that once they refer outstanding judgments to a collection agency, recovery of those funds becomes relatively straightforward. In point of fact, judgment collections are far more challenging than typical consumer/commercial collections. The laws are different, the required tactics are different, and the costs associated with collection are far higher–so much so that many collection agencies forego judgment collections altogether.
Security Financial Solutions is one of a very few number of collection agencies with the experience and expertise to collect judgments fast. Not only are we willing to absorb the additional costs associated with judgment collections, our advanced database network gives us significant advantages over our competitors when it comes to securing judgments.
Our confidence stems in part from our advanced asset tracing capabilities. When SFS is seeking 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. Unfortunately, many “uncooperative” debtors, fearing a judgment against them, go out of their way to hide their assets. Some of these efforts are highly-creative. Most are not. But regardless, virtually none of them get past the agents SFS puts in charge of asset investigation. In fact, we assigns an entire team to the process of identifying debtor assets. SFS agents, relying on cutting-edge technology, are able to locate those assets, assess their value, and begin the process of enforcing debt repayment. 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.
We don’t handle every aspect of judgment collection ourselves, of course, even with an entire team working flat-out. SFS is closely-affiliated with an expansive network of collection attorneys throughout the country, all of whom are extremely well-versed in debt recovery and provide invaluable legal assistance when called upon. They are the ones who help us navigate the intricacies of collections law. SFS also absorbs all costs and fees associated with pursuing a case through the courts. Clients only pay when we collect (a modest percentage of the total amount recovered).
Crucially, SFS tailors its judgment collections to meet the specific needs of our clients. Their priorities are our priorities, and at all times we work to ensure that our judgment collection efforts align with their values and goals. SFS never brings the court system into the process at all unless our client gives us the “green light” to do so. In some instances, clients fear they have something to lose by turning to the legal system for help, even if their chances of obtaining a judgment are excellent. We respect any and all decisions our clients make with regard to legal options, since they–quite obviously–know their situation best.
It is worth stressing that SFS avoids any and all conduct with even the slightest potential to reflect badly on those who retain our services. After all, financial losses are one thing; loss of reputation is something else entirely. To this end, SFS is careful to comply in full with all applicable laws and regulations, be they local, state and/or federal.
In every instance, SFS negotiate openly and honestly with debtors. We offer them every possible opportunity to resolve the judgments against them in full. We’re determined, but we’re flexible–and also fair. We know the burden that judgments often place on debtors and do our best to develop solutions that are fundamentally “win-win.”
SFS has an extremely strong track record in securing judgments associated with tenant-landlord disputes. Click below for details.