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Judgment Enforcement – The Step-by-Step Course

STEP 3

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GETTING EVEN MORE INFORMATION ABOUT THE DEBTOR

The first time you talk to the creditor, let the creditor tell you all
about the debtor and the case. You want as much information as
you can get. Of course, the creditor won’t have anything good to
say (and may even exaggerate how terrible the debtor is), but from the whole picture you

may get a new sense about whether or not you want this judgment at all.

For example, if the debtor is already supposed to be paying child support (which has a
priority over all other wage garnishments), and has been unemployed and using
drugs, I wouldn’t take that judgment in a million years. There is very little chance

you’ll see any profit in the next few years. However, the creditor may also tell you
about the debtor’s prize 1967 Plymouth Barracuda, or his coin collection, or
something else. Bingo. You know there is an asset out there. I’ll show you later
how to get it.

BUSINESSES HAVE MULTIPLE JUDGMENTS!

If you are writing or calling a business, such as Bowers Auto Leasing, remember that
businesses often have many judgments. If you get one judgment, you may get them all.
They are looking for someone good to help them in the long term, and the judgments are
just sitting in a drawer. In the section on “How to Get More Judgments” I’ll tell you how I

got 20 good judgments in one day from Pearson Ford, Inc. in San Diego.

Questions and Answers

Q. Peter, what is your favorite type of debtor?

A. I prefer a debtor who has screwed someone over, and who also has assets. There are
tons of judgments out there like this. Contractors, neighbors, employers, doctors, and
more. These are the “better debtors.” They are not dead beats or losers. The “better debtor”
knows he owes the money, has the assets, but refuses to pay. He thinks no one can make
him. I like these “better debtors.”

So, these are my favorites, and worth looking for and even waiting for. In these cases, the
creditor has intentionally been wronged, and I can help out while also earning a good
living for myself.

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