Thursday, February 16, 2012
Debtors Hiding Assets
Being in the Judgment Recovery field I see the people who have judgments against them hiding assets all the time. They usually put them in other peoples names or they will put them in their business name. A simple trade name will not protect their personal assets in case the company is sued. However, a LLC or an INC will protect their personal assets in the event that the company gets a judgment against them. There are what I liked to call "hardcore debtors" which means that the person has had several judgments against them and they know what to do to hide their assets and their money. People new to the Judgment Recovery field should not attempt to recover a judgment from such a person simply because it would be difficult, costly, and very time consuming. Its best to wait til you are in the field for a while before you try and recover these types of judgments. My associate Mark Shapiro has a judgment referral site JudgmentBuy.com. There you can find several judgments and Mark will send you a pdf file with a copy of the judgment and information on the debtor. You can also refer judgments to him that you may not have the time or resources to work on. If the judgment is recovered you will be paid a referral fee. So for more information go to http://www.judgmentbuy.com.