Page 100 - Judgment Enforcement Course

Judgment Enforcement – The Step-by-Step Course

So, once the judgment is in your name, and you own it, then you can pull credit
reports, file papers, have the sheriff take the debtor’s car, garnish wages, etc. Again, you
cannot do this for the creditor, only for yourself. If you are doing it for the creditor, that
would be “unlicensed practice of the law” –UPL
Don’t file the
Q. Should I file the agreement with the court too? agreement with
the court. It’s
A. No, no. The agreement is a contract between you and private. Just file
original creditor. It’s a private contract, and protects the original the assignment
creditor so that he knows you will give him his part of the money after you itself. It will be
public record
enforce the judgment. then.

* Only the “Assignment of Judgment” is filed with at courthouse.

Q. Do I have to pay the costs? Maybe I can get the creditor to do that.

A. First, it’s a very attractive deal to the creditor if you pay the costs. The creditor

doesn’t want to put out any more money than he or she already has. And, if you’ve done
your “back at the office” homework, you’ll eliminate taking a lot of assignments that aren’t
cost effective. Finally, if the creditor pays the costs, that may be taken as a sign that you
are not really the owner of the judgment. Unless you’re an attorney, I strongly recommend
paying the costs out of your own pocket, and then reimbursing yourself first when you
collect.

Q. If I take assignment on several judgments from the same creditor, such
as a car company or jewelry store, do I need a separate assignment and
agreement for each case?

A. Separate assignment? Yes. But separate agreement? No. Each judgment requires a
separate Acknowledgement of Assignment of Judgment. That’s because each Assignment
is placed in the court file according to the case number. But a single agreement may be
prepared to cover all cases given to you by the creditor.

For example, I had one account of 10 judgments with a car company, and while I had an
Acknowledge of Assignment for each judgment, I had one agreement saying that “for each
assignment to me, Peter Gilboy is responsible for costs and for the distribution of 50% of
the monies collected…” and so on.

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