Page 92 - Judgment Enforcement Course

Judgment Enforcement – The Step-by-Step Course

The letter also has a bit of a teaser in it.

“I have located Samuel Howards in Gatlin, MS, and I
believe that I can recover the money that is owed you.”

Having located the assets is a result of your “Back at the Office”
investigations. The creditor will be interested and impressed.
It’s important that it look personal and not like junk mail, so under the return address I
would write the Case Number by hand in blue ink. That’s likely to get the creditor’s

attention.

Oh, and you’ll notice that the P.S. on the sample letter shows that I am trying to help
the creditor by providing a Satisfaction of Judgment form. That’s because, in some cases
the creditor has been paid in full, but he has neglected to file a Satisfaction of Judgment. If
that is the case, why not include one for him or her? They are free to you at the court or
online. If the judgment isn’t satisfied, he will feel your good will. And it’s important that a
Satisfaction of Judgment be filed after the creditor collects the judgment. The creditor can
be liable for any loses to the debtor due to the debtor’s credit report not being correct.

Peter’s Handy Tip: How to Negotiate for your Percentage?

When discussing your percentage with creditors, be sure to point out that there will be

no (as in zero) additional costs on their part. That’s a major selling feature! Some creditors
have already put out hundreds of dollars or even tens of thousands of dollars to get the
judgment, and don’t want to “throw away” any more money. Attorneys often want cash up
front before they will help collect. Collection agencies want cash up front too. So, a key
selling point is the fact that you will be covering all costs from now on.

How is that possible? Frankly, costs are low. $6-$9.50 for a credit report. $1.00 for a
skip-trace search that tells you every residence the JD has occupied in the last 20 years.
$3-9.00 for more asset information. Also, any additional UcourtU costs that you may incur,
you can take off the top after collection begins, and then add back onto the original
judgment. Look closely at the Purchase Agreement. You’ll see it’s all there.

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