Maine Collection Agency

Use an International Debt Collections Firm to Collect on Your Judgment

Right after becoming awarded a judgment, some creditors lose heart when they find winning was just the beginning of the debt collection procedure. In reality, national statistics indicate nearly 85% of awarded suits are never collected.

Why?

Although the judge ruled in the plaintiff's favor, the court does not collect the settlement for the plaintiff. Unless the defendant whips out a stack of greenbacks to pay on the spot, the plaintiff could uncover themselves facing an even far more arduous route in collecting on the judgment.

Making use of an international collection agency for collection becomes an attractive alternative for those who are not very certain how to collect on their judgment.

Collection Alternatives - Garnishment/Seizure/Lien

If the debtor neglects to pay within the time frame specified by the judge, (generally 30 days) a creditor must then file notice with the court that payment has not been produced. As soon as this is registered with the court, the creditor could then seek to collect on the judgment by way of the method of account and/or wage garnishment(s), individual assets seizure or lien.

In order to pursue any of these possibilities, the creditor need to very first have data concerning where the debtor lives, works and banks (for garnishments), what assets they possess (for seizures or liens) and if any of the assets are exempt from being seized for debt payment.

When Debtor Skips Town

Although there are several online resources obtainable to the individual to perform skip-tracing activities, many are only cost efficient when utilized by a business specializing in locating people and their assets. If the debtor has moved to one more state from where judgment was obtained, an international collection agency can help not only in locating the debtor, but also in handling all seizure/garnishment proceedings according to local civil processes.

Identifying Non-Exempt Assets

While this may sound basic, the process to initial identify assets, ascertain if they are in reality owned by the debtor (several chronic debtors are masters at concealing assets) and then following the legal processes required to seize or location a lien against the assets can speedily grow to be overwhelming. Several assets are protected from becoming seized - an international collection agency will know what the seizure laws are for the jurisdiction in which the collection is to take place.

The agency is also equipped to file all required paperwork with the correct judicial program to commence the lien, seizure or garnishment method, and guarantee notices are served upon the debtor and their employer or bank. They can also deal with all communications with local law enforcement when asset seizure requires the physical seizure be performed by a court appointee (frequently the local sheriff's office).

Each and every step of the garnishment/asset seizure processes requires extra court filing fees and process service fees. These fees might be added to the judgement, but are still upfront costs incurred by the creditor until the debt is satisfied.

When utilizing an international collection agency, little or no upfront costs are required - many only obtain their fee when collection is created.

We recommend letting a professional National Collection Agency handle your outstanding debts for the most effective and efficient no-upfront cost way to collect on monies owed to you.

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