Once you have taken someone to court and won a settlement, it might be tempting to think that the hard work is now over. Unfortunately, the courts will offer you no help in persuading the debtor to pay what they owe.
Many judgment holders decide to sell their judgment lien on real property, exchanging the right to enforce the judgment for cash. Here are three reasons you should sell your judgment to a reputable company instead of wasting your own time and money trying to collect it.
Only 20% of judgments are ever collected
The sad truth is that being awarded a judgment by the courts gives you no guarantee that your debtor will ever pay you. The average judgment creditor lacks the resources and the legal knowledge to enforce their judgment lien on real property, which is why so many creditors sell to companies that can take on the collection burden.
Get money upfront
If you choose not to sell your judgment on property, you risk collecting nothing from the judgment. However, if you sell to a reputable company, you can get immediate cash for your judgment. Granted, you will not get the full value of the judgment, but the buyer runs the risk of getting nothing for it if they are unable to collect.
Selling is fast and painless
Your lien property for sale doesn’t have to remain a stressful quandary in your life. Once you’ve decided to sell your judgment, the process usually only takes a couple of days, after which you never have to think about it again.
Selling your judgment will be more profitable and less arduous than attempting to collect your judgment by yourself. Finding a trustworthy and knowledgeable company to sell to is half the battle. Remember, at Mayflower Judgments, we buy judgments!
