Judgment recovery is the process of collecting on a court judgment. When a debtor fails to pay a judgment, the creditor can hire a judgment recovery business to help them collect the debt. Judgment recovery businesses typically charge a percentage of the amount collected, and they may also charge additional fees for services such as skip tracing and asset searches.
Judgment recovery can be a lucrative business, but it is also a highly competitive one. To be successful, judgment recovery businesses must have a strong understanding of the law and the collection process. They must also be able to work with debtors and creditors to negotiate settlements and payment plans.