Page 29 - Judgment Enforce Course2020

Judgment Enforcement – The Step-by-Step Course

Get the idea? Any debt against a business is NOT a

consumer debt. Lots of personal debts (car accident, tree falls on BE SURE TO SEE
THE ADDITIONAL
house, equalization judgment after divorce) and so on are also NOT LESSON ON
consumer debts.
‘CONSUMER
You will need to check the codes of your state to see the JUDGMENTS’ ON
requirements. Google the definitions for sure. When in doubt, THE FORUM.
always ask an attorney. And the Forum will have more information
listed in the folder for your state.

UYou’YouYYou Will Need a Business LicenseU:

Even if there are no state collections license requirements, the city or county in which
you are located will want you to get a city business license. (Iowa is an exception.
Strange, yes? So are people from Iowa.) Business licenses are
usually $50 to $150, tax deductible.

Again, the question now becomes, “What kind of business
are you?” Collection agency? Service provider? Something else?
When you apply, they may ask you to describe your business. If there’s a box to check that
says “Legal” or “Other”, I’d check one of those. Don’t say you are providing a “service”.

You’re not. I describe my business like this:

I purchase civil court judgments, and I enforce these judgments in my
name as the legal ‘assignee of record’.

Also, if you’re a sole proprietor, the state or county you are in will likely want you to
register your business name, called an FBN –Fictitious Business Name, or a “Trade
Name”. A fictitious business name is the name of any business that is not also the name of
its owner.

So, if Adam Smith has a business called Adam Smith’s Solutions, he does not need an
FBN. But if his business name is Ohio Enterprises, then he does need an FBN. Get your
FBN. It’s probably about $12-$75 or so and you’ll have to deal with the local government.
Ugh. It’s also tax deductible. Your county or website will show you how.

Step 4: A Private Mail Box.

Separate your personal mail from your business mail. It’s the professional thing to do.

So, you will need to set up a private mailbox.

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