When a person owes money to a creditor, and this can be one of several different types of debts, the creditor may put a lien or a hold on the property. This is done through either a state agency or through a county records office. When it is ordered through courts, it is called a judgment lien on real property, and it can create the option for someone to buy judgments.
There are several companies that will buy these judgments, which can be extremely difficult to collect and may take years and years of arguing and stalling. An example of a very established company that offers this service is Mayflower Judgements. They have been buying real estate judgments and liens since 1986, and are a trusted name for anyone with a judgment to consider.
How It Works
When creditors have a substantial amount of money owed to them, they take the debtor to court. When they win their case, the court provides a judgment that states the creditor is owed an amount that will be offset by the value of the judgment lien on real property. Rather than waiting for years to try to collect, the creditor may then look for a company that buys judgments to recover what they are owed.
When working with a judgment buyer, remember there will be no lawyer fees and no collection agencies involved. There are also no brokers or other types of third parties, and it can be a very fast process once the evaluation is completed on the property.
If waiting for years to recover does not work for you, talk to a judgment buyer. With the top companies, funds are often available in just a few business days, and you no longer have to worry and try to collect.
The experts at Mayflower Judgements can worth with you to purchase your judgment lien on real property. For more information on how this works in your best interests, see us at www.mayflowerjudgements.com.