Frequently Asked Questions
Can my judgment expire?
Yes, there is a Statute of Limitations, or how long a judgment is enforceable. This period of time is usually five to twenty years starting from the date the judgment was awarded. Illinois judgments are good for seven years, and then they must be revived.
Isn’t the debtor breaking the law by not paying me? Wasn’t the judgment a court order for the debtor to pay?
It is not against the law to owe money. Debtor’s prison does not exist anymore. If your debtor was in prison, collection would be more difficult. When the debtor is working, making and saving money, and purchasing, this all makes it much easier for us to collect.
What about using a collection service?
Collection services send out nasty letters and call the debtor repeatedly, but are rarely successful and can be on the border of the law. The debtor has the right with the passing of the FDCPA (Fair Debt Collection Practices Act,
to have the collection service cease all communications. We are not affected by the FDCPA, because we become the legal assignee of record. After the Assignment of Judgment is filed, we are allowed by law to pull the debtor’s credit report, locate bank accounts, investigate assets and bring the debtor back into court.
We are then allowed by law to garnish wages, freeze and levy bank accounts, and seize assets to satisfy the judgment that was rightfully awarded by the court to you.
Why wouldn’t I retain an attorney to handle enforcement of my judgment?
Most attorneys are not familiar with post judgment collections. If you don’t mind putting down a retainer and spending $200 to $400 per hour for an attorney’s services, call an attorney of your choice.
Do you guarantee that you will be successful in collecting the money judgment?
We cannot guarantee success, since there may be no assets to obtain. We dedicate ourselves to pursuing the debtor, since we do not get paid unless we collect.
Are there any hidden or upfront costs? Are there ANY application fees?
No, there are NO upfront fees or costs. We advance all costs and petition the court to add them to the judgment, having the judgment debtor pay these fees from what is actually collected. If any fees are not allowed by the court to be added to the judgment, they are deducted from the amount collected. Itemized statements are always included in the first payments to you. We also retain attorneys whose costs are also added to the judgment. All legal fees and expenses incurred in enforcing your judgment are advanced by Legal Judgment Recovery.
We purchase the judgment in its entirety on a future pay basis. After we file the Assignment of Judgment (included in the Document Package we send to you ), we are then allowed by law to proceed with enforcement of the judgment. After an asset investigation and review of your judgment occurs , the actual value of the judgment is calculated. You have no upfront expenses.
What is the best way to contact you to start the process?
Call Legal Judgment Recovery LLC by phone at 800-764-3336, email us at info@legaljudgmentrecovery.com or submit your information via the Contact Us form.
