Executive Judgment Acquisition
Is there a statute of limitations for executing on my judgment?
Yes. If your judgment is currently recorded at the Pennsylvania Court of Common Pleas, it can be enforced for up to 20 years from the date it was awarded. If your judgment is recorded at the Magisterial District Court, the judgment will expire 5 years from the date it was awarded.
Does an unpaid judgment accumulate interest?
Yes. Pennsylvania judgments accrue simple interest at 6% annually.
Why shouldn't I use an attorney to enforce my judgment?
You can, if you are willing to pay the fees associated with enforcing the judgment whether or not any money is ever collected. These fees could include a retainer and an hourly rate in addition to expenses related to judgment enforcement. Our company will bear all expenses involved in the asset investigation and the enforcement of the judgment.
How about using a collection service?
A collection service may contact the debtor and irritate him to death! They may even place a black mark on his credit report. But they rarely collect once people have been sued and refuse to pay.
Can you guarantee the judgment debtor will have to pay?
No. Sometimes there are simply not assets to seize or other ways to force payment. But you can be sure that we will do our best, because if we are unable to enforce your judgment - we don't get paid. This gives us a serious incentive to succeed!
Must I pay any of the expenses incurred in enforcing my judgment?
No. After the sale and assignment of the judgment, if an attorney is needed, any court costs are incurred, or any other expenses are required, those expenses are paid by us.
What are the chances my judgment(s) is/are collectable and you will want to buy it?
This varies depending on each individual situation. It costs nothing to find out and even if your judgment is determined to be not collectable, at least you will know someone has checked up on the judgment debtor.