Q:  I thought a judgment was an order for the debtor to pay.  Isn't the debtor breaking the law by not paying me?

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A:  In the United States it is not against the law to owe money and a judgment is not a collection.  A judgment merely fixes the amount of the debt as a legal obligation of the judgment debtor, and the court will not assist in judgment collection unless the judgment creditor (you) takes additional legal action.

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Q:  Can I use an Attorney?

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A:  You certainly can if you wish.  However an attorney will charge you their normal hourly fee (often $250 per hour or more).  This can add up very quickly and will likely come due immediately.  Moreover, if their collection efforts are unsuccessful, you will still be obligated to pay their bill.  And while many litigation attorneys are skilled at getting judgments, most are not proficient with effective post judgment strategies.

 

Q:  How much will it cost me?

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A:  Our fee is taken from the proceeds of the collection.  If there is no collection there is no fee.  You will never be required to make a payment to us for any reason.  We advance all costs.  If there are additional court expenses, we petition the court to add them to the judgment.  We work with attorneys at no cost to you.  In short: We spend the time and money.  If we don't collect, it still costs you nothing. 

 

Q:  Can you guarantee that you will collect the money judgment? 

 

A:  There are no guarantees, except that we will make our strongest effort.  We use every strategy at our disposal to collect, including pursuing assets of the spouse or even a former spouse.  When appropriate we will add debtors to the judgment on "alter ego" theory, or piece the protective veil of a corporate structure.  If the debtor files for bankruptcy, not all is lost.  When appropriate, we will fight the debtor's bankruptcy in order to get the judgment non-discharged.

 

Q:  How long is a judgment good for?

 

A:  In Minnesota a judgment is valid for 10 years after the date of its entry.  After this time period has expired there is no possible way to collect the judgment unless it has been taken through the legal process of renewal.  If renewed, the judgment survives for an additional 10 years.  When appropriate, we will take the judgment through the process of renewal. 

 

Interest accrues on a money judgment from the time of its entry.  The applicable rate of interest depends on the amount of the judgment.  Judgments greater than $50,000 that were entered on or after August 1, 2009 are subject to a 10% simple interest rate per year until paid.  Judgments less than or equal to $50,000 are subject to the annual interest rate computed by the state court administrator.  Since 2006, the rate has been 4% simple interest per year until paid.

 

Q:  How do I proceed? 

 

A:  You can call or email us using the contact information listed below, or complete the online form on the "Contact Us" page of this website.  Our investigative team will conduct a no-cost assessment of the judgment and call you within 24 - 48 hours to discuss our strategies.  If we decide to accept the judgment, we will mail you the requisite forms for your signature and a simple questionnaire.  Once you mail the forms back, there is no further requirement for your involvement.  We take from there.           

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