The Judgment Recovery Business
One of the most lucrative fields a private investigator can get into is judgment recovery. You do not need a license. You can start immediately. It is cheap and easy to advertise.
Judgment recovery is the act of helping people who have been issued judgments by a court to recover their money. Very few people who are awarded money by a judge ever see it. Our legal system is set up to help you get to court and suit some one who owes you money or who has wronged you. Unfortunately, the legal system offers no help in getting your money once it has been awarded.
That is where you step in. As a private investigator, you have the knowledge to find people and their assets. You can do what everyday people can’t. You will be providing a much needed service to your community by helping hundreds of people get the money that is rightfully owed to them.
This is how it works. You go to the court clerk and search through the small claims files. You look for files where a judgment was issued, but never settled. You write down the name and address of the person who is owed money. (This information is right in the file.) You continue until you have a list of people who are owed money.
Next, send out a letter offering your services to these people. The letter just states that you can help them recover their funds at no cost to them (more on that later). They contact you and discuss the terms. You do not get paid by the hour or case. You get paid a percentage of the amount collected, 50% in most cases. That way, you have the opportunity to make a lot of money, and the client is never out of pocket.
Once you take the case, you can begin uncovering the debtor’s assets. You have several options available to you.
- Settle the matter by allowing the debtor to make monthly payments
- Garnish the debtor’s wages
- Seize the debtor’s bank account
- Put a lien on the debtor’s home and other property
All of the above options are available to you, in order to help you recover those funds. Plus, all costs associated in collecting the money can be added back into the judgment. That way you are not out of pocket either. If you collect $5000, you get to keep $2500. That is not a bad deal!
If you want to be a private investigator, judgment recovery is one of the specialties you should pursue. You can make a lot of money, help a lot of people, and perfect your investigation skills. Remember, you do not need a license. This would be a great field to pursue while going to college to get a degree.
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