Bill Collection Agency

Using an International Collections Firm to Collect on Your Judgment

Soon after becoming awarded a judgment, some creditors lose heart when they discover winning was just the beginning of the debt collection method. In truth, national statistics indicate almost 85% of awarded suits are by no means collected.

Why?

Despite the fact that the judge ruled in the plaintiff's favor, the court does not collect the settlement for the plaintiff. Unless the defendant whips out a stack of greenbacks to pay on the spot, the plaintiff could find themselves facing an even more arduous route in collecting on the judgment.

Making use of an international collection agency for collection becomes an appealing alternative for those who are not very sure how to collect on their judgment.

Collection Alternatives - Garnishment/Seizure/Lien

If the debtor neglects to pay within the time frame specified by the judge, (generally 30 days) a creditor need to then file notice with the court that payment has not been made. Once this is registered with the court, the creditor could then seek to collect on the judgment via the process of account and/or wage garnishment(s), individual assets seizure or lien.

In order to pursue any of these possibilities, the creditor need to very first have info regarding where the debtor lives, works and banks (for garnishments), what assets they possess (for seizures or liens) and if any of the assets are exempt from being seized for debt payment.

When Debtor Skips Town

Even though there are many online resources available to the individual to perform skip-tracing activities, many are only price efficient when utilized by a business specializing in locating individuals and their assets. If the debtor has moved to one more state from where judgment was obtained, an international collection agency can assist not only in locating the debtor, but also in handling all seizure/garnishment proceedings according to local civil processes.

Identifying Non-Exempt Assets

Even though this may sound simple, the procedure to first identify assets, ascertain if they are in fact owned by the debtor (numerous chronic debtors are masters at concealing assets) and then following the legal processes required to seize or location a lien against the assets can swiftly become overwhelming. Several assets are protected from becoming seized - an international collection agency will know what the seizure laws are for the jurisdiction in which the collection is to take location.

The agency is also equipped to file all required paperwork with the proper judicial system to commence the lien, seizure or garnishment procedure, and ensure notices are served upon the debtor and their employer or bank. They can also handle all communications with local law enforcement when asset seizure demands the physical seizure be performed by a court appointee (often the local sheriff's office).

Every step of the garnishment/asset seizure processes needs additional court filing fees and process service fees. These fees may be added to the judgement, but are still upfront costs incurred by the creditor until the debt is satisfied.

When utilizing an international collection agency, small or no upfront expenses are needed - numerous only obtain their fee when collection is produced.

We recommend letting a professional National Collection Agency handle your outstanding debts for the most effective and efficient no-upfront cost way to collect on monies owed to you.

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