After a long, drawn-out procedure, you have prevailed in civil court. You have won a money judgment against the defendant. Now what? It’s time to collect. You could go the DIY route, but that’s probably not the smartest move. You are better off bringing in a collection agency or turning matters over to your attorney.
For my money, a specialized collection agency like Salt Lake City-based Judgment Collectors is the way to go. Attorneys can certainly handle the task, but they have other things to do. Agencies like Judgment Collectors have but one focus: collecting judgments.
At any rate, here are five reasons you should not attempt DIY judgment collection:
1. You’re Not Done With Court
If your case is like most others, you are not done in court. Yes, the case has been decided, and a judgment has been entered in your favor. But unless the debtor is prepared to pay the full amount right away, you’re probably going to need to utilize enforcement strategies requiring further court action. Are you prepared to go back to court without help?
You may have to petition the court for a writ of garnishment. You might have to ask for a writ of execution or subpoena the debtor’s employer and bank. These are all things you could do on your own. But do you know how?
2. You’ll Need to Know the Debtor’s Income and Assets
In order to determine the best collection strategies, you will need to know everything you can from the debtor’s income and assets. Perhaps he will volunteer all the information without you having to ask. But what if he doesn’t? You can utilize certain discovery tools like depositions and interrogatories. But you’ll need professional help to use them properly.
3. You May Need to Search for Assets
Let us assume the debtor is not upfront about all his assets. You suspect he is hiding things from you. Now you need to go look for those things. Asset searches are very possible; collection agencies conduct them all the time. But they know where and how to look. Do you?
Do you know how to search public property and tax records? You know which private databases can help you find what you’re after? Do you know how to look for clues on social media?
4. The Debtor Might Skip Town
You may run into a situation in which the debtor skips town. Or perhaps he stays local but goes into hiding. An agency like Judgment Collectors can utilize skip tracing tools and strategies to find the debtor. So can you if you knew how skip tracing works. I am guessing you don’t. Skip tracing is generally the domain of private detectives, bounty hunters, collection agencies, and law enforcement.
5. Collection Could Take Years
Finally, there is the reality that collection could take years. If it took a collection agency – with all its resources, expertise, and employees – two years to collect on your behalf, it could take you twice as long doing it on your own. And that’s even if you manage to collect at all.
Judgment collection rules and procedures are designed to protect the rights of both parties. But they are also cumbersome and time-consuming. Successful collection rarely happens in a few weeks or months. It is generally a long-term project requiring years of commitment and patience.
There is no shortage of judgment creditors who try DIY collection only to fail. Save yourself the trouble and bring in a professional. The fee you will pay for expert service is well worth the investment when you consider the alternatives.