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As the economic meltdown makes judgment enforcement a lot more difficult, more people and companies are trying to make money without having to directly enforce judgments. The latest entrepreneurs attempting to profit without directly enforcing judgments are those who teach and attempt “judgment flipping”.
Judgment flipping is the act of finding judgement sellers, persuading them to sell their judgments for low prices, and then finding buyers to buy them at higher prices. A judgment flipper attempts to make money on the margins between the buy and sell prices. This has been overdone for decades with houses, judgments, cars, notes, and other assets.
Fairly soon, judgment flipping courses and companies may advertise themselves to Judgment Enforcers. Judgment flipping is not really new; it’s just another way of making money without having to directly enforce judgements.
Before detailing how to flip judgments, here are the other ways entrepreneurs make money without directly enforcing judgements:
* Judgment recovery courses and web sites.
* Judgment lead sellers.
* Skip tracing and asset location services.
* A Judgment Broker.
How to flip judgments:
Judgment flipping relies on finding motivated judgment owners, often called the Original Judgment Creditors (OJCs). Here’s one way to do it:
You find OJCs, and convince them to sell their judgments to you for cash up front. You have the OJCs assign their judgment to you, making you the legal owner. Then you find Judgment Enforcers, and sell them the judgments for a price higher than the price you paid for the judgements.
This is not as easy as it sounds because judgment owners tend to believe their judgments are worth the face value of the judgment. No judgment is worth more than the debtor can be made to pay. Many judgments are worthless, and even if you persuade an OJC to sell one for three cents on the dollar, there is no guarantee of finding a Judgment Enforcer that will pay more than that.
It’s not free or easy to find good judgment leads. You can buy judgment leads, or go to courthouses in person or online. You find the contact information for the OJCs and debtors, then screen the judgments to make sure they are valid, and neither party filed for bankruptcy. Then you call or write the OJCs, and try to find some that will sell their judgment for a small amount of cash. Then you find Judgment Enforcers, and try to sell the judgments at a profit.
Flipping judgments is not any more profitable or easy than the other ways of making money without having to directly enforce judgments. It’s always dependent on your investment and hard work.
Mark Shapiro – http://www.JudgmentBuy.com
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