Recently, we were contacted by a debtor having a big judgment against him for $100K plus $30K in accrued interest. The debtor claimed to have lots of assets, and said the creditor refused to settle the judgment for $100K, and the creditor wanted $130K cash to satisfy the judgment. The debtor said he was short of cash but had lots of assets, and wanted JudgmentBuy to find someone to settle the judgment with cash upfront, and he would pay them back soon.
I told the debtor that unlike most judgment situations, he must supply his credit info, age, address, income sources, and specific assets. (In the vast majority the creditor or judgment enforcer with the legal right, must pay and work to get this information.) When a debtor wants a loan, they must supply this information voluntarily.
The debtor would only supply the vague hint he owned a lot of securities, but failed to identify them, so we told him "sorry, nobody would loan him money to satisfy his judgment". Judgments are not cash and cannot he used for collateral for a loan.
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Mark Shapiro, judgment expert, judgment broker, judgment writer, and a smile chaser.
http://www.JudgmentBuy.com
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