Judgment Recovery Software
Using quality judgment recovery software, specialists in this field can pursue overdue payments on money that was awarded in legal judgments. These funds can be recovered in a variety of ways. And these debts can be pursued for as long as they are still within the applicable statute of limitations. A debtor might see their wages garnished or they might have liens placed against there own personal assets. In general, the easiest way to obtain these funds is through garnishment of wages. Most states allow for this approach to making sure that legally enforced payments are made on a regular basis. Of course, for this method of obtaining these debts to work, a debtor must be employed and must be willing to keep that job. Many debtors will attempt to get around payments by moving on to another job. In addition, when a debtor is self employed, garnishing wages can become much more complicated. This is where an effective judgment recovery software product can make a huge difference. Because there are such a myriad of legal forms, paperwork, and administrative formalities involved, software that can simplify what can be a paperwork nightmare could prove to be a very valuable tool for specialists in this field.
Some of the areas where judgment recovery software can provide help might include record keeping in such areas as filling out necessary legal forms or financial transactions. Many cases will involve an accumulation of a wide variety of documents. This documentation could include information on such issues as marriage or divorce proceedings, accident reports, health records, wills, affidavits, declarations, documents concerning rent or mortgage payments, insurance investigations or any number of other concerns. Various police records, sales receipts, records of purchases, property records, or information on DUI proceedings may need to be kept track of as well. Utilizing judgment recovery software can bring all of this paperwork chaos under control. In addition to organizational help, these products can also make pertinent information on important legal issues available at the touch of a mouse. Simplifying record keeping and gaining easy access to important information can increase the productivity of any endeavor. Before purchasing one of these products, a potential buyer should check to see how the software was created. If a trained legal professional was instrumental in designing the product, then chances are it will meet the needs of the specialist in judgment recovery. Another question to ask is whether or not the product is accessible and user friendly. The most comprehensive and useful feature will do the consumer no good if the product is too difficult to use.
Of course, compatibility with an individual's existing computer system is necessary. There should be no problems with integrating the judgment recovery software with other programs on a user's computer. Another plus would be a product that can easily handle the large amount of data that is associated with this area of collections. A high quality product will save the user hours of tedious work while handling endless details with ease. Using this software can be as simple as entering information one time. The program will then merge all of this information into the necessary documents and records. Mail merge features can also aide in preparing any necessary correspondence. Report building and drafting letters can also be simplified by taking advantage of the features of these programs. Other useful features of a quality judgment recovery software product could include automatic calculation of interest payments as well as the automatic updating of files. Designing and laying out reports is another useful feature. Some programs will also automatically correlate case numbers and provide instant updates of individual cases. Many programs will also offer the ability to calculate the percentage of the recovered funds that are owed to the business. Finding a product that will meet the individual needs of an organization can mean gaining an important resource to lean on. The importance of leaning on God is frequently mentioned in the Bible. "Unless the Lord had been my help, my soul had almost dwelt in silence." (Psalm 94:17)
Once all of the needed supplies and resources have been gathered, including judgment recovery software, an entrepreneur who wishes start a business in judgment recovery will need to understand the workings and practices that are employed in this field. If funds are recovered, the business owner will often receive anywhere from thirty to seventy percent of these funds. Fifty percent is the most common rate that is charged. Older judgments will often receive higher percentages of payment. In some cases, the person who was originally awarded money in a court ruling will transfer ownership of the ruling for a fee. A business owner can work either full or part time, whatever best fits their personal schedule. In spite of any seemingly glamorous appeal, working in this field will often consist of spending a lot of time on the phone, searching databases and trying to locate individuals.
By utilizing judgment recovery software, a specialist in this field can be freed from tedious busy work and concentrate on building a growing business. As with any new business venture, patience and hard work at the very beginning can bear fruit as the client list grows. A judgment recovery specialist need not be limited to their local area. If an entrepreneur so desires, they can accept cases from anywhere in the country. With adequate training and resources, it is possible to build a career in this field.
Judgment Recovery CoursePurchasing a judgment recovery course could prove to be a smart move for individuals seeking a second income or home based business. Because of a national credit crisis, more consumers are not only filing bankruptcy, but also dealing with judgments filed against them by creditors. And while court-ordered judgments for delinquent accounts are easily won, collecting monies awarded to creditors can be a long and tedious task. Wresting payments from delinquent, cash-strapped debtors is a little like trying to tame a wild horse. The rider has to first catch the horse and put a bit into its mouth before he can ever think about riding it! Debt recovery agents have the task of first locating debtors who may have moved several times since the judgment before they can be corralled into responding to a collection call or letter. Hiring debt collection attorneys can be costly and may still not result in successful recovery efforts. But vendors who offer an online judgment recovery course claim that any adult with access to a home or office PC and the Internet can learn how to successfully collect delinquent monies owed to creditors and make a substantial profit.
An online or hard copy judgment recovery course provides debt collection wannabes with the necessary knowledge of state laws governing collection proceedings and a good understanding of the dos and don'ts of dealing with delinquent debtors. Legal instruments used in judgment recovery may vary slightly from state to state, but the process for getting creditors paid is much the same. Debt collectors research state databases for outstanding judgments or review court records for documentation listing debtors, creditors, and amounts awarded by the court. Legal records will also indicate how long the judgment has been outstanding, whether it is from a few weeks to several years. A good judgment recovery course will offer tips on how to secure information, track down debtor's current locations, addresses, and places of employment; along with instructions on how to write collection letters or make phone calls that illicit a positive response.
Debt collection professionals are hired by creditors to represent them and enforce court-ordered judgments. As such, the recovery agent takes over the responsibility of communicating and corresponding with delinquent debtors to collect on past due accounts. Another goal of a judgment recovery course is to prepare independent collection agents to determine which cases are worth pursuing and exercise due diligence to recover court-ordered creditor payments. When a creditor/plaintiff hires a collection agent, the judgment is placed in the agent's name. While collectors are not law enforcement personnel and cannot arrest anyone for non-payment of a debt, they do have a legal right to file wage garnishments, have a sheriff perform a bank levy to recover funds directly from a delinquent debtor's account, or in some cases, issue an assignment order to wrest past due funds from a second party involved in the litigation. Knowledge of the legality governing collection proceedings will help agents determine how to approach each case. "Get wisdom, get understanding: forget it not; neither decline from the words of my mouth. Forsake her not, and she shall preserve thee: love her, and she shall keep thee. Wisdom is the principal thing; therefore get wisdom: and with all thy getting get understanding" (Proverbs 4:5-7).
How lucrative can working as an independent debt collector become? Course instructors claim that recovery agents can set fees at 40% to 50% of the total amount of money collected on a judgment -- a hefty sum, especially if agents work several accounts at once. Creditors realize that 50% to 60% of something is worth more than 100% of nothing; so they are usually willing to engage the services of a knowledgeable debt collection agent, rather than risk never recovering money from a claim. A good judgment recovery course will recommend drafting a legal contract with creditor/plaintiffs before beginning debt collection proceedings. A contractual agreement should stipulate the percentage collectors expect to be paid and the extent to which collection efforts will proceed. It is also good to agree on a specific time frame for recovery proceedings, since some cases may require steady and constant communication with debtors for several months before any monies are forthcoming.
To find out more information about a judgment recovery course offered online or locally, individuals can browse the Internet or check out the local telephone directory. Reputable courses should be offered through long standing firms or consultants with a good track record of debt recovery. The Better Business Bureau may have information about some companies, along with a history of compliments and complaints. Individuals should be sure to get a thorough understanding about how the course works, especially digital programs which require some computer savvy. Many web-based instructional programs will offer a free downloadable trial, which is highly recommended for individuals who are just beginning to explore self-employment.
Before deciding to engage in a part- or full-time career in debt collections, individuals would do well to purchase a judgment recovery course or take advantage of a free trial offer. Self-employment requires self-discipline, keen organizational skills, and a dedicated work space with a home or office PC, Internet access, and a dedicated land line phone. Collection agents must be tenacious in recovering monies awarded in court-ordered judgments. The debt collection industry is not for wimps; agents need a backbone like a crowbar and the tenacity of a bulldog! Otherwise, debtors who are highly skilled at evading payment issues and avoiding creditors will take advantage of individuals who don't have the heart to enforce judgments. With a comprehensive course and a determination to pursue each case with diligence, individuals in pursuit of a career in debt collections should have no problem succeeding.