3 Great Reasons to Let a Collection Agency Handle Your Judgment

Winning a money judgment in civil court can provide some measure of satisfaction when someone does you wrong. But winning the case isn’t the end of the matter. You also need to collect the debt. I have been researching and writing on judgment collection for years, and in my opinion, there are some pretty good reasons for letting a collection agency handle the job.

Understand that I am referring to a collection agency that specializes in judgments. Salt Lake City, Utah’s Judgment Collectors is a good example. Judgment Collectors do not handle general debts. Outstanding judgments are all they work on.

You could turn collection over to a general collection agency instead. You could also let your attorney handle it. But here are three great reasons to bring in a specialized collection agency like Judgment Collectors:

1. Knowledge and Experience

Judgments are not really debts. They are rulings handed down by courts in civil cases. They sometimes establish debts, thereby giving creditors access to certain legal tools that would otherwise be out of reach. This is a key point in understanding why it is better to bring in a specialized collection agency.

You cannot go about collecting an outstanding judgment in the same way you would collect a general debt. There are other things in play. Therefore, doing it right requires a certain body of knowledge. Being successful requires experience. A specialized collection agency brings both to the table.

Understand that a lack of knowledge could lead to you doing something that only makes collection harder. Furthermore, trying to collect without knowing what you are doing is likely to lead to a frustrating experience that could last for years.

2. Collection Efficiency

Efficiency is an important principle in modern business. It is one that most definitely applies to collections. Specialized collection agencies can do what they do more efficiently than individual creditors. Their businesses are streamlined for efficient collection.

How does that help you? By not wasting your time or resources. It is like anything else in business. The more efficient a collection agency is, the more it is able to produce without unnecessary waste. You ultimately get more for your money commensurate with how efficient your collection agency is.

A good example is found in property searches. Does your accounts receivables team know the most efficient way to find property a debtor is trying to hide? If not, they could spend weeks or months looking for a hidden property. Meanwhile, an experienced and knowledgeable collection agency can find that same property in days.

3. Collection Speed

Finally, specialized collection agencies have a habit of getting to the finish line faster. Think about it. They have the tools, knowledge, and experience to get the job done in the most efficient way. They ultimately get it done more quickly, too.

Note that time is the enemy in the collection game. The longer it takes to collect, the less likely you are to collect the full amount owed. Judgment debtors and their attorneys know this, which is why so many of them deliberately stall. They play the waiting game, hoping that creditors will get tired and frustrated enough to walk away from the debt.

Winning a civil judgment settles a dispute. When it’s a money judgment, the second step is collecting on the debt. Judgment creditors can attempt to collect on their own or bring in professionals. In my opinion, the best professional for the job is a specialized collection agency that does nothing but collect judgments. They know how to do the job quickly and effectively.