Page 166 - Judgment Enforce Course

Judgment Enforcement – The Step-by-Step Course

Most corporations today are small. A lot of them are mom and pop corporations. A

chiropractor will have a corporation, as will a pre-school, a parking lot business, a tree
trimming company and a taxi company. Like large corporations, they want to make sure
that if an employee has an accident, or if something else untoward happens, the corporation
alone will be liable for the damages and not the people who started the corporation.

Now, because the small corporation was probably set up to limit liabilities, there may be
only a few assets in the corporation itself. The founder of the corporation has made himself
an employee, receiving a hefty salary from the corporation each month, leaving very few
assets in the corporation itself. The reason is obvious: If the company gets sued, not only
are the owner’s assets protected, but in addition practically nothing is left of value in the
corporation that would be worth suing! The “owner” of the corporation can then buy his
fancy car, buy homes, travel, etc., with his annual income from the corporation, while the
corporation itself may have very little money in the bank, and few other assets. Get the
picture?

This means that you have to exploit what I call the “4 Secret Assets.”

What are the 4 Secret Assets of the
Corporation?

✓ The customers of the corporation
✓ The employees of the corporation

✓ The methods by which the corporation keeps track of its records

✓ The ways the corporation gets paid (credit card machine, etc.)

The customers and employees can be questioned at a JDX or subpoenaed if they have
knowledge of the JD company’s income and assets. (Check your state’s specific codes to
see what’s possible.) The bookkeeper tracks business money, and credit card companies
know all about the company’s billing. And, the business won’t like you bringing these
people in to provide information about the assets. You may get a call asking, “How can we

settle.”

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