Although I have never been party to civil litigation, I have researched it exhaustively as part of my job. There is one thing I can say after devoting many years of research to this topic: if I were ever to win a money judgment in civil court, I would not try to collect it on my own.
The majority of money judgment winners (a.k.a. judgment creditors) attempt to collect on their own and ultimately end up failing. That explains why the vast majority of money judgments in America go forever unpaid. I wouldn’t want to be another number added to that statistic. Therefore, I would bring in an experienced collection agency like Salt Lake City’s Judgment Collectors.
Here are five reasons explaining why:
1. I Don’t Know What I’m Doing
A few years ago, Judgment Collectors published a post explaining why an estimated 80% of all money judgments never get collected. The big takeaway for me is that judgment creditors, by and large, don’t know what they are doing. I would absolutely fall into that camp.
I do not know the proper way to submit interrogatories. I don’t know how to communicate with a judgment debtor in an effective way. Simply put, I do not know anything about collecting money judgments. My lack of knowledge would ultimately be my downfall. So I would bring in experts.
2. I Don’t Know My Options
There are different options for collection based on state jurisdiction. Every state allows installment plans and lump sum payments. But what is allowed beyond those two options? I don’t know anything about wage and bank account garnishment. I do not know if my state allows judgment liens and writs of execution. A collection agency knows what I don’t.
3. I Have Better Things to Do
Even if I did understand the fundamentals of money judgment collection and all my available options, I am still not interested in trying to collect on my own. Quite frankly, I have better things to do. My time is both limited and precious. I don’t want to waste it on debt collection.
Organizations like Judgment Collectors have the time to invest because it is what they do. I would rather pay them for their time and effort than invest my own time in judgment collection.
4. I’m Cheap, Too
In addition to having better things to do, I am also cheap. I don’t want to spend any more on judgment collection than I need to. But if I try to do it myself, I could invest years in the process while spending untold amounts of money along the way. I would rather bring in a collection agency that works on consignment.
The consignment model dictates that I only pay for services if the agency collects. Meanwhile, the agency covers its own costs. So if they fail to collect, I don’t spend a dime. That works for me.
5. I Would Be Lost if the Debtor Disappeared
Finally, I would be lost if the judgment debtor suddenly disappeared and did not leave forwarding information. I know nothing about tracking down people who are trying to hide. On the other hand, a collection agency can utilize proven skip tracing methods to find both debtors and their assets.
I can see no good reason to try to collect a money judgment solo. So if I ever find myself at the winning end of civil litigation, my first post-judgment action will be contacting a collection agency. Their services are worth paying for, at least if they are an agency that works on consignment.
