Collecting Judgements
Question came up in the PM forum, but thought it might fit here as well. I have been awarded several judgments over the past 18 months for back rent. Since most have been below $1000/1500 I have basically wrote them off as a "cost of doing business". My logic being time/effort to collect and collection agencies have a minimum amount they go after and they take 50% of everything collected.
However recently, I started wondering is their a way to collect? Or is my first though correct? Any advice of tips would be appreciated.
thanks
I have had fairly decent success collecting judgments from small claims court. If you know where they work, you can garnish wages. If you have written them a check or if they have written you one, you can seize a bank account. You can even go as far as having the judge order them into court to answer questions regarding their finances and their ability to pay you. Lots of options to consider.
Ryan
Thanks for the replies.
Ryan - I will look into some of your suggestions, but since I deal with low income folks - that may be difficult and time consuming.
FYI - most of these tenants, in not all, were a result of a bad PM - poorly screening prospectives tenants. My new guys has done much better.
also, what do we do with regards to getting insurance and
title insurance ?
I am doing the same with just a credit partner can you tall me some more about www.this.Or email me www.back.Thakns for your time.