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You can ask a lawyer or collection agency to help you collect your judgment. But you may have to pay a percentage of the judgment in fees (some agencies charge only 15 percent or 20 percent). They may also ask you to assign the right to your judgment to them.

Familiarity with the Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq., and any applicable state law or regulation concerning actions to collect on a judgment is also a must.

A general rule of thumb is that if you owe less than $1,000 the odds that you will be sued are very low, particularly if you're creditor is a large corporation. In fact, many big creditors won't sue over amounts much larger than $1,000.

In many situations, one of the best ways to collect a judgment after winning a case is to put a lien on the debtor's property. This gives you a claim to the property and, in some cases, the property will be sold at public auction in order to satisfy the debt that is owed.

Keep in mind that if you do NOT pay the judgment: The amount you owe will increase daily, since the judgment accumulates interest at the rate of 10% per year. The creditor can get an order telling you to reimburse him or her for any reasonable and necessary costs of collection.

When a creditor sues you and wins, the court issues a money judgment against you. Once the creditor has a money judgment, it can use various methods to collect on that judgment. It can garnish your wages, place a levy on your bank account, or place a lien against any real estate that you own.

Once the judge rules in your favor, you still don't have a judgment. The clerk of the court needs to issue the judgment. This typically takes 2 to 4 weeks, but with governmental budget cuts, there have been a few occasions where this has taken 4 to 6 months.

The court enters a judgment against you if your creditor wins their claim or you fail to show up to court.The judgment creditor can then use that court judgment to try to collect money from you. Common methods include wage garnishment, property attachments and property liens.

If you pay the collection agency directly, the debt is removed from your credit report in six years from the date of payment. If you don't pay, it purges six years from the last activity date, but you may be at risk for wage garnishment.

Consent Judgement

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How to fill out Arkansas Consent Judgment On Complaint For Collection Of Debt?

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Can a collection agency collect on a Judgement?

What is the statute of limitations for collecting a debt in Arkansas?

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How do you collect money after winning a Judgement?

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