Do you have a judgment or lien on property that you are having trouble collecting on? It’s possible that you have already spent a lot of time and effort trying to recoup you investment. If this is the case, it is important to know that you have some options. You can actually sell your judgment to receive a payment a lot quicker. See why this route makes a lot of sense in the long run.
What Is a Judgment Lien?
It can help to explain what a judgment lien is. After a civil case has ended, a judgment will be issued. Usually, this involves the court ordering one party to pay money to another. This sounds good in theory if you are on the winning end, but it’s not always so simple. In many cases, the debtor does not follow through on the promise to pay. This leaves the winning party without any real resolution. One possible solution is to seek out a judgment lien on property. This will allow the creditor to receive the due amount when the debtor eventually sells the property. This is essentially what happens behind the scenes when someone buys lien property for sale.
Selling Your Judgment
As mentioned, there is an alternative option when you are stuck holding a judgment. You can sell this judgment to a third party for an immediate payment. This can save you a lot of time chasing down the other party, or waiting forever to see lien property for sale. In most cases, it is the best bet.
For more information about selling your property or judgment, contact Mayflower Judgments.
