Many creditors lend large sums of money in good faith to clients, customers, and others. In most cases, these borrowers pay back the money, but when they do not the creditor may get a judgment on property through the court. This is when the creditor may start to see companies advertising “we buy judgments” contacting them.
There are some top companies that do buy judgments. One of these companies is Mayflower Judgements, which has been in business for decades. These professionals can help creditors out who have received a judgment on a property through the courts but may have to wait years until they can collect.
Before answering any of those we buy judgments advertisements, it is important to understand the process. As in any type of financial transaction comparing options and working with a company that has experienced in buying judgment on property is always the best option.
The Process
Selling a judgment is very simple when you are working with a reputable, experienced company. The first step is to contact one of the professional judgment purchasers working for the company. This person reviews the information provided and determine if the property is eligible to purchase.
If it is, the information is then provided to the company’s experienced judgment evaluators. These professionals evaluate and determine the value of the offer they make for the judgment. This is less than the judgment, but it is also cash you have in your account in just days, rather than waiting for years and dealing with the creditor over and over again.
This process is typically completed in just a few days. The seller has no obligations to take the offer on the lien property for sale, which makes it a win-win situation for anyone with a judgment they cannot collect.
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