Frequently Asked Questions

You mentioned on the Home Page that you don’t accept some types of judgments. What are those?

Yes, some judgments are just not worth pursuing, either from a practical standpoint, or from a personal ethics standpoint. These include:

  • Judgments against people facing current financial hardship. Making someone’s already miserable life even worse is not something I am willing to do. For example, people who have had a recent eviction and a judgment for not paying rent (Unlawful Detainer) generally are not good candidates for enforcement. If they can’t pay even their rent, they are unlikely to be able to pay a judgment. In these instances, I would suggest hanging on to the judgment and look at enforcing it in a few years when the debtor’s financial circumstances may have improved. (Remember, you are also entitled to get interest on the judgment.)
  • Judgments against hardcore substance abusers, criminals, or those where the debtor is seriously ill.
  • Debtors who have filed for bankruptcy after the judgment was awarded. (Judgments are usually not legally enforceable in these cases, anyway. But not always.)
  • Where the debtor has moved out of state. In these cases, you may be better off with a judgment enforcer in the other state.
  • Judgments that my gut tells me are going to be super-hard to impossible to enforce, or the alarm bells in my head tell me that something is “off” with the whole situation.
  • Judgments smaller than $5,000. There is a minimum (yet significant) amount of work involved in enforcing any judgment, and smaller judgments are simply not cost effective.

What kind of judgments do you like to enforce?

The best are judgments against people with assets or income who think they are too clever to be forced to pay. Often, you will find these to be people who are hiding assets in a spouse’s name or a corporation, or some hidden bank account. Finding these accounts can be a time-consuming and tedious effort, but one which Black Widow Financial enjoys, much like a good chess game!

Couldn’t I just hire an attorney to collect the judgment?

Yes, this is certainly an option. But most attorneys will want an upfront retainer, and there is no guarantee of success. After the money you put into winning your lawsuit, putting even more money into collecting the judgment is often unpalatable. Black Widow Financial will not cost you any more out-of-pocket money. And unlike most attorneys, BWF will conduct legal surveillance, and will even go “dumpster diving,” if necessary, to track down employment and asset locations.

What about just selling the judgment for upfront cash?

This may be an option, but usually judgments sell for 1%-7% of their face value on the open market, with the higher value being “easy” judgments against individuals — perhaps higher with debtors like a bank. The reason that selling a judgment for cash doesn’t bring much money is that there are HUGE risks for a judgment buyer with a cash sale. A debtor might file for bankruptcy, suddenly die, move to a foreign country, or do something that renders the judgment suddenly worthless. You generally will end up with much more money, ultimately, on a “future pay” basis if you can be patient.

How long before I get paid?

This can be a matter of weeks to a matter of years. (Yes, it may take years in some cases!) But realistically, you are probably looking at some months before the money starts to come in. It can take a month just to get a motion heard in court, and it can be a very slow, lengthy process overall.

However, in some cases when the judgment debtor realizes what they are facing (such as a court-ordered examination of their assets — under oath) they pay very quickly. For other debtors, it may make more sense to set up a reasonable payment plan to avoid having them file for bankruptcy, which could wipe out the judgment altogether.

Okay, so what’s the next step?

Contact us with the particulars of your judgment. Either telephone or e-mail is fine. (Easiest is to use the “Submit Judgment” menu selection above.) We will do a free, no obligation pre-screening to see if the judgment is a good “fit”. If it is, and you’d like to proceed further, we will send you a purchase agreement which confirms the payments that you will be due, and a form called an “Acknowledgment of Assignment of Judgment”, which you will need to sign in front of a notary public. Then, just return this paperwork to us — Black Widow Financial will take care of the court filing and service on the debtor — and we will start the enforcement process right away! Easy.