Capital Judgment Recovery
Judgment Enforcement Specialist
Frequently Asked Questions
Is there a statute of limitations on executing my judgment?
Yes. Your state law sets a limit on how long a judgment is enforceable, usually a period of 10 years from the date the judgment was rendered. Some states provide ways to renew the judgment for additional periods of time, usually another 10 years. However, in most cases, the sooner you enforce the judgment, the better.
Can I collect interest on my unpaid judgment?
Most judgments include a provision for collecting interest, usually from the day it was rendered. The actual interest rate and calculation procedure (compound or simple interest) varies from state to state.
Why shouldn't I use an attorney to collect my judgment?
You can use an attorney if you are willing to pay a retainer and a fee of between $125 and $400 per hour. Sometimes an attorney is a wise choice if you know where the debtor’s assets are and it is simply a matter of seizing those assets. Rarely, however, are collection matters that straightforward.
How about using a collection service?
A collection service may contact the debtor and harrass him, they may even place a black mark on his credit report but, in terms of effectiveness, their bark is usually bigger than their bite. With the passage of the FDCPA (Fair Debt Collection Practices Act), the debtor has the right to simply tell the third-party debt collector to stop ALL contact. We investigate the debtor, find his assets, and then seize them to enforce the judgment.
Is there any guarantee you will collect on my judgment?
No. Sometimes there are simply no assets to seize. However, Capital Judgment Recovery will employ all legal means of uncovering existing assets because we do not get paid if we are unable to collect.
Must I pay for the expenses incurred in enforcing my judgment?
No. Capital Judgment Recovery advances the cost of all expenses. In most cases, many of the expenses are added to the total judgment (upon petition to, and approval by, the court). You are paid on the ‘net’ recovery. Even if nothing is collected you are not responsible for expenses.
How long before I actually see results?
It all depends on the difficulty in locating your debtor and the degree to which assets are buried. Some debtors are very smart about concealing their assets. Recovering funds could take several months and in difficult cases it could take substantially longer. Please note that due to budget cuts, the courts are now taking longer to process paperwork necessary to enforce the judgment.
I have a judgment awarded in one state against a debtor who resides in another state.
Hopefully, your debtor answered your complaint or made an appearance at the trial or hearing. However, if your defendant didn't answer or appear, the judgment is called a 'Default Judgment'. This is considered a weak judgment. Each of us has the right to confront our accusers and to defend ourselves against any legal claims. Therefore, if the debtor is able to show the court that he was not properly served, or served in the wrong capacity, he can file a motion with the court asking it to set aside the judgment. This is the most common 'hurdle' that must be cleared in any judgment enforcement, especially when done across state lines.
How does all this work?
First, we complete an agreement detailing the specifics of our purchase of the judgment. If acceptable, you then assign the judgment to us, making us the judgment creditor of record. Once we have filed this 'assignment' with the court, we have the legal right to investigate the debtor and to proceed with the legal process of enforcement of the judgment.