How Does a Judgment Recovery Business Owner Spend a Workday?

Every year, civil judgments are handed down in court that require defendants to repay debts that have accrued through credit cards or other means. Despite the debtor's legal obligation to repay these debts, it is estimated that about 79 percent of all claims go unpaid. To assist in the collection of unpaid debts, many people are turning to judgment recovery business owners.

Duties Associated to Acquiring Claims

A judgment recovery business owner might spend his or her day doing numerous relevant tasks. One of the most important is acquiring new claims to be collected. This is done by visiting the public records department at the local courthouse. Here, the judgment recovery business owner sifts through old claims and finds those that have been unfulfilled. Once claims have been identified, the individual or entity seeking compensation is contacted via telephone, e-mail or regular mail. The goal of this contact is to receive approval to sign the small claim judgment over to the recovery business. In exchange for his or her duties, the business owner will receive an agreed-upon percentage of the total debt collected.

Duties Associated to Debt Collection

The second set of daily duties associated with judgment recovery is related to collecting the debt. This often requires the business owner to do some detective work to first locate the debtor. This may be done by checking phone number databases, credit reports, job applications and other resources for a current address or phone number. Once found, the judgment recovery business owner initiates collection. This can be done by contacting the debtor directly or simply by filing paper work that results in bank account seizure, wage garnishment or property liens. As the legal assignee of the judgment, the business owner has the legal grounds to achieve this.