Judgment Courses Compared

The following is a great compilation of what happens when bad news is on its way. You know the saying, “into each life a little rain must fall”…..we all know to expect it; however when it shows up there is a sliver or a whole chunk of fear that comes with the unknown. Think about how you have given or gotten bad news and what you have done to get to solid ground. Let me know. The best answer will get a complimentary pass to our next GUTSY WOMEN weekend or for the men a copy of “Don’t Bring It to Work”. If you are willing I would also like to post your response on a future blog.

As a judgment broker, I talk to many business owners with a bundle of unpaid accounts, asking for my advice. First off, I am discussing debts that have not yet been turned into judgments by winning a lawsuit. If you already have a judgment, you “only must get it enforced.

Of course it sucks to deliver bad news, no doubt about it. But having been on both sides of the equation more times than I care to think about, I’d have to say that, given the choice, I’d rather not be on the receiving end.

Whenever you do anything in the court system, you will find a lot of hands being thrust into your pockets. You will have to pay a filing fee to the clerk. You may have to pay a sheriff or process server business to serve your lawsuit on your debtor. In Kentucky, your debtor may also be served by certified mail. At the very least, you will incur those two costs when you file your lawsuit. These costs alone usually run over $100.00 and could approach $200.00 in some cases. If you are successful in your lawsuit, the court will award these costs back to you. You will then have to attempt to collect these costs, along with the judgment awarded.

You must prepare a stamped envelope, with your name and address on the return envelope, and the debtor’s last known address. You should do some due diligence to verify the address of the judgment debtor is correct.

It’s essential to choose a company that knows the rules of the jurisdiction where the case was filed. For example, while some jurisdictions allow any adult who is over the age of 18, has no felony convictions and is not a party to the case to serve process, most require process servers to be licensed, bonded, certified or otherwise authorized.

If you feel you are being harassed by a collection agency, make sure you document the agent’s name, the date, time, and the agency they work for. Also, document what was said in as much detail as possible. Contact your state attorney general’s office and the FTC to file a complaint.

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