FAQs
Frequently Asked Questions
Is there a statute of limitations on my judgment?
Yes. Each state sets a limit on how long a judgment is enforceable. In Maryland a judgment is valid for 12 years. Maryland judgments can be renewed prior to expiration and will be extended another 12 years. Once your judgment expires, you may no longer recovery your money.
Can I use an attorney to recover my judgment?
You can, if you are willing to pay the attorney by the hour – even if they are unsuccessful. Most attorneys are successful in getting his/her client a judgment. However, Judgment Enforcement is a specialty which requires substantial time, special tools, resources and effective post-judgment strategies to be successful. More often than not, this is not a specialty that attorneys practice. We have a number of attorneys who use us for their judgments and / or their client's judgments.
What about using a Collection Agency?
Collection agencies often process debts in bulk and are usually hired to collect someone else’s debt. Larger agencies buy debt on the debt market (like credit card debt) for pennies on the dollar. They send out letters and call debtors in an effort to get the debtor to pay. Collectors are often on a phone dialer and “talk off” accounts in hopes that a certain percentage of the debtors will pay with little resistance. Collection “campaigns” are often set up with the best profit margin in mind. Unless the collection agency specializes in judgment recovery, and most do not, these collection tactics have no teeth and are little more than “Pretty Please”. When it comes to “talking off” a judgment, that ship sailed a long time ago.
Are you a collection agency?
Yes, we are a licensed collection agency. The state of Maryland requires a collection license for Judgment Recovery. We only recover on judgments; we do not do pre-judgment collection work.
Can I collect interest on my unpaid judgment?
Yes, most judgments include a provision for collecting interest, usually from the day it was rendered. The actual interest rate and calculation procedure varies from state to state. In Maryland, the interest rate is 10% on judgments; except rental judgments (non-commercial) are 6%.
Why doesn’t the court get my money for me?
The court awards judgments and then it is up to you to recover your judgment. The court and clerks can’t even give you any legal advice on how to recover your judgment. You are forced to hire an attorney to get legal advice.
Do I have to pay for the expenses incurred in enforcing my judgment?
There are never any upfront costs or fees to you. We advance all expenses and are reimbursed only from collected funds from the debtor. Unrecoverable expenses are absorbed by us.
Is there any guarantee you will collect on my judgment?
No, there is no guarantee of success; but we are good at what we do. We have to be, since we advance all the cost of recovery. We only get paid if we succeed and therefore we are motivated to succeed. There is no risk to you.
I want nothing to do with the debtor! How involved will I be?
Once the “Assignment of Judgment” is filed, the court recognizes us as the Judgment Creditor and all debtor contact is handled through our office.
How long will it take to recover my Judgment?
It is difficult to predict how long it will take. Every case is different and every effort is made to expedite recovery.
What if my debtor lives in another state? Are you still able to recover the Judgment?
The actual answer is Yes and NO. If this is a Maryland judgment and the debtor lives out of state, then there are two options. 1) find assets that fall under Maryland jurisdiction, or 2) find someone in the other state to domesticate the judgment there and to enforce the judgment under that State’s laws.
If the judgment was rendered in another State and the debtor lives in Maryland, the judgment can be domesticated to Maryland and enforced here.
What if the debtor files bankruptcy?
Once discharged in bankruptcy, and if your judgment was not exempt, then your judgment may be unrecoverable. In some instances, your judgment may be exempt from discharge in the bankruptcy (meaning we can still recover your money). We monitor the bankruptcy actively and consult with counsel as needed.
What happens if you are unable to recover any money?
Time changes all circumstances. In some instances, it may be necessary to "wait out" the debtor until their circumstances change allowing us to recover the Judgment. Otherwise, if we determine that the judgment in unenforceable, we will notify you.
INTERESTED IN RECOVERING YOUR MONEY?
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