Assignment Process

If you just received our assignment packet, I will explain a few of the sections that you may have a question about below.  Again, always feel free to contact me with any questions.  

Acknowledgment of Assignment of Judgment

· This is what we file with the court which legalizes your assignment.

• Paragraph 3 is where you record any partial payment that you received from your debtor whether it was from a garnishment, a bank levy etc. 
• Now, you go to your bank and sign this document in front of their notary.

Absolute Sale and Assignment of Judgment

· This document is our detailed agreement between you and my company. My attorney drafted this, but I will explain some of the paragraphs that I think you may want to better understand. Feel free to have your attorney review it for you. Also, you can call me at 407-282-4987 and we can discuss it.

• · You have received two copies. One has my signature for your records and the other one is for you to sign and return to me in our self-addressed and stamped envelope.
• · Paragraph 4: Terms of Payments - The first payment that we receive from your debtor whether it be the final settlement one or the initial down payment to begin subsequent monthly payments, we will deduct any collection costs, if any like filing fees for garnishments, process server fees and other court costs from that payment. We add those costs to the judgment so that the debtor will pay them. After we retain our enforcement costs, if any, we will send you a check for our agreed amount that is listed in the agreement.  If the best we can get from your debtor is less than $100 a month we may bundle up to 6 payments and send you your percentage due of that amount. This helps reduce our overhead and time. I will notify you within 30 days of the down payment or settlement payment with a check to you and the terms I made with the debtor. Then, in the rare case that the debtor pays you directly instead of us you are to notify me and send me the payment. I in turn will disburse in accordance to our agreement.
• Paragraph 7: Authority of Assignee to Settle Judgment - You agree that since you have assigned the judgment to my company, I enforce it on my own behalf. This means that I can settle, collect or compromise for less than full amount if I feel that that is the most I can get. Remember, the more I can get from your debtor the more we get paid, so I will always go for the highest amount available. 
• Paragraph 18: Attorneys' Fees - We have never had a dispute with a creditor like yourself, but in the rare event that there is any litigation between you and my company, you understand that the non-prevailing party in the case will pay the prevailing attorneys' fees and other costs in connection to case.  

Judgment Debtor Profile Sheet

• It is very important to print clearly your email and phone number. Do not forget to contact me if you move. I want to be able to get your check to you quickly.
• Record any information you have on your debtor. Ex-wife, friends, place of employment, type of work they do, property, etc. My private data bases are pretty good, but sometimes they can be misleading. The information you provide can help me confirm that I have the right person.  The more information the better.

Returning the Packet

• I included a self-addressed and stamped envelope for you to return the notarized Acknowledgment of Assignment of Judgment, Absolute Sale and Assignment of Judgment and the Judgment Debtor Profile Sheet. 
• The sooner I receive these back the sooner I can get to work to get your money back.