Great, you won your civil judgment. Now what?
Now it’s time to get paid. That means you, (the creditor), first have to find the debtor (person or company that owes you the money). Then you need to locate their assets, and lien the assets you find by filing specific documents with the court. Then you would need to sit back, and wait until they decide to pay you. Simply because you may have put a lien on a person’s assets does not mean they will pay you.
There is also the strong possibility that if this person owes you money, chances are they owe someone else money too. This means that other creditors could also go after the same person or company as well to try and collect what is owed to them. Many times, a debtor will move, try and sell their home or business, or end up filing bankruptcy.
Every day civil judgments are won in courts across the US, but out of those, only about 20% are actually collected on. This is because most creditors do not have the time, knowledge, or resources to locate a debtor and their assets, let alone collect on them.
Judgement recovery or sometimes known as judgement enforcement companies, like the Gabel Recovery Group, do exact that – locate debtors’ assets, and collect against them to fulfil outstanding post-civil judgements. Asset recovery is specifically about locating any assets an individual or company has – such as real property, cars, boats, bank accounts, and even wages – and then leveraging those assets to pay back the debt.
There should be no out of pocket expenses to a creditor (you) when working with a judgment recovery / judgment enforcement company. Any reputable judgment collector only gets paid if they are successful in collecting on the judgment. If a company wants you to pay upfront to start working on your case, it’s time to look for a new company!
FAQ’s
1. Is there a minimum judgement size that Gabel Recovery Group (GRG) will work with?
Yes:
GRG typically will only work on judgments that are $10,000 or more.
2. Can GRG track down debtors?
Yes:
We have the latest “Skip Tracing” tools and techniques that allow us to locate people and also their assets.
3. How does GRG get paid?
Gabel Recovery Group gets paid a percentage of the judgment amount that we collect. This is only payable if the judgement is paid, which means no out of pocket expense to you. If we do not collect, we do not get paid and you owe us nothing.
4. Will GRG take any judgment:
No:
We are very selective on what judgments / cases we work with. It does no one any justice to take on cases that are most likely not collectable. We would not want to waste a creditors time if we felt it would be fruitless. We have a high success rate for a reason, and that is because the cases we do take are ones that we are confident we will collect on.
5. Will I have to go to court or see the debtor?
No:
Once GRG takes the assignment, we handle all the court hearings, paperwork, filings, travel, costs and interaction with the debtor. You will have no interaction, court appearances or out of pocket expenses.
6. Can’t I just use a collection company?
Yes:
Yes you can, if you have not gone to court yet and have been awarded a judgement. Collection companies are typically used for pre-judgment collections – this means a debtor is in default, but the case has not been put in front of the courts yet. A collection company will attempt to collect the debt that is outstanding before you having to take the debtor to court They will call and mail the debtor, but will not lien assets that belong to the debtor. GRG handles Post Judgment cases only. We have the authority to find assets and take them.
Have a question that is not covered here? Please do not hesitate to call us directly to ask questions or to discuss your judgment. Our number one goal is to educate and help in anyway so that you can make an intelligent decision.
