Judgment Recovery and Private Investigators

A judgment is a court ruling that declares someone must repay a debt. These judgments can sometimes, however, be difficult to recover, and when a debtor needs to collect payment, they might hire a private investigator to track down the debtor and collect on the money they owe.

In many cases, this can be a tricky and involved process. People might simply refuse to pay. They could hide their assets to make it look like they don’t have the money. In some cases, they take efforts to disappear entirely so they can’t be found. Experienced private investigators can often be of big help in finding these people and enabling creditors to collect monies that are owed.

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How a Judgment Works

When a creditor obtains a judgment from the courts, they are issued a writ of execution. This serves as permission from the courts for the creditor to undertake credit collection efforts, including seizing the debtor’s assets up to the amount of the debt. These assets, once seized, are sold at a sheriff’s auction or other sale to pay off the debts.

In some cases, the debtor refuses to pay. If they have not successfully appealed and proven legally that they don’t have the assets, they are legally required to pay up, and this is where collection enforcement might come into play. Creditors can take a number of steps to recover their money, from wage garnishing to directly seizing assets. First, however, they need to know what assets there are to target.

Judgement Recovery Private Investigator

What a Judgment Is Not

Obtaining a judgment does not mean that the courts will take action to collect a debt for you. It just means that you’ve got official legal backup for the debt you are owed. While they can legally issue a demand of payment, they cannot take further action to compel said payment. Because of this, nearly 80% of all debt judgments are never recovered. In fact, unless you have a judgment renewed, you only have ten years to collect the debt.

Private Investigators and Judgment Recovery

Private investigators will conduct thorough research into the resources and assets held by the debtor, including their bank accounts, any stock or investment portfolios, real estate holdings, current wages, vehicles, business assets, and any other private or business income they might have. Information about these assets will then be turned over to the creditor who can take the necessary steps to recover their losses.

In some cases, the detective may have to track down the individual, if they’ve made an effort to vanish. This can involve surveillance both electronic and traditional, background checks, interviewing witnesses, or a range of other efforts which can reveal the location of an individual in hiding.

After finding the missing person, the investigator can turn this information over to the creditor, or may conduct additional research into gathering evidence about assets that can be seized, as above.

Private investigators play an important role in holding people responsible for the debts they build up. If you would like to help keep people honest and protect people from high interest rates and further difficulties borrowing money, the life of a P.I. might be the one for you. Check out how you can become a licensed private detective in your locality today.

Online Criminal Justice and Private Investigator Programs

Online Criminal Justice and Private Investigator Programs

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Choose your area of study and receive free information about programs you are interested in. Private investigators are used by law firms, law enforcement, insurance companies, as well as individuals to conduct investigations to build criminal and civil cases. A degree related to criminal justice could benefit an aspiring private investigator greatly. Request information from multiple schools to find the best program and educational opportunity for you!