Judgment Collection Frequently Asked Questions | Information | FAQ
General
Listing a judgment is easy! Once you’ve registered, just click "Sell/Trade" and follow the simple process. To learn more about listing a judgment for sale, please click the following link:
http://judgmentmarketplace.com/how/sell
The "Buy Now" price is the dollar amount the seller will accept for immediate sale. The first buyer to accept the "Buy Now" price locks him/herself in as the purchaser of the judgment or portfolio.
Judgment Marketplace provides guidelines which give our members how much they can reasonably expect to get for their judgments. There may be extreme circumstances which make your judgment special. For example, if you are in the process of garnishing the judgment debtor’s wages and generating a steady income stream, that may push the price up. If the debtor’s assets look very shaky, that may push the price down. The best way to price your judgment is to start with the scale we provide and then adjust slightly based on the level of risk that the Buyer would be facing based upon the particular circumstances of the judgment debtor.
Sellers usually give buyers a few payment methods. Judgment Marketplace recommends buying and selling judgments with escrow.com. Both Buyer and seller must set up an account with escrow.com that is linked into Judgment Marketplace so that payments are properly processed.
No.
You should include any information that may be relevant. At the very least, you should include sufficient information to enable buyers to research their potential ability to execute the judgment by cross-referencing the information you provide with other sources of public information. However, under no circumstances is it permitted to post the debtor’s personal financial information, Social Security, bank account information or phone numbers. Additionally, you are prohibited from posting any information that enables Judgment Marketplace members to contact you outside of the Judgment Marketplace forum.
Judgment Marketplace offers free registration and free listing options. We have a final sale fee, which means that you only pay a fee if and when your judgment sells, giving you a risk-free way sell your judgment. There are certain options which a seller may opt to accept which would cause him/her to incur a fee. For example, if you list your judgment for a price above the guidelines suggested by Judgment Marketplace or you choose to include features to highlight your listing you may be assessed a fee.
Sellers who wish to avoid incurring any fee prior to sale only need to list the judgment under 25% of the principal judgment amount and without any added features.
Judgment Marketplace could easily amass a large number of listings that are largely constituted of listings that will never sell because the asking price is too high.
That is not our goal though. Our objective is to stimulate sale transactions on our Site.
Most people who are selling a judgment for the first time overestimate what their judgment is worth because they grossly underestimate the risk that Buyers are usually taking when they buy a judgment. If Sellers as a general rule unrealistically overprice their judgments the chances that they will successfully find a purchaser are slim. Plus, our forum risks turning off Buyers as a whole because they will view Judgment Marketplace as a forum where Sellers are trying to charge more than their judgments are worth. The net effect would be that there would be a lot fewer Buyers browsing our site which makes it harder for Sellers with reasonably priced listings to find purchasers.
Judgment Marketplace hopes that charging a fee for asking an unusually high listing price will reduce the number of listings that are overpriced. If your judgment has some unique features which you think make it worth more than most other judgments, you have the option of paying to have your listing priced above its normal range. That being said, by charging a fee, we hope that most Sellers will think twice before asking for a price which will scare off most Buyers.
You can upload files in a variety of formats (e.g., GIF, JPG, DOC, PDF and RTF) but images need to be in JPG or GIF format.
You can create a portfolio and add judgments to the portfolio or sell judgments separately.
Once the buyer and seller agree to a price, the buyer pays the seller through any accepted payment method. If the buyer chooses escrow.com, the funds are held by Escrow.com until the buyer and seller both confirm the title of the judgment has been transferred to the buyer. At that point, Escrow.com will release the funds from the sale to the seller.
Sellers choose their own payment method. Our sole recommended payment method through Escrow.com is very secure. Escrow.com exists for the purpose of making sure that each party gets what they bargained for and that money is only distributed when the recipient has fulfilled his/her obligations.
You are permitted to use any payment method offered by the seller. Our site recommends Escrow.com to purchase judgments. This policy is based upon Judgment Marketplace’s concern that other payment methods will be less secure.
There are no fees to register as a basic member, to list a basic judgment or to buy a judgment. Each sale is assessed a 5% deduction for Judgment Marketplace’s processing fee. In addition, there are fees for charging a price above Judgment marketplace’s recommended price range. Judgment Marketplace offers certain optional services for a fee. These include featured listings, premium memberships and specialized searches to assist in locating judgment debtor’s assets. None of these fees are assessed unless you specifically approve the purchase on a case by case basis.
If the judgment is not as described, please contact the seller and give them a chance to make things right for you. If it's still not resolved, you can contact Judgment Marketplace using our Resolution center in the Customer Support tab.
If you trade your judgment for an equally valued judgment, there will be no Final Value Fee of 5%. The transaction will be entirely free. Please see the three different scenarios below:
1st Example: Person A has a judgment valued at $1,000. Person B has a judgment valued at $1,300. Person A offers Person B to trade their judgments. If Person B accepts the trade, Person A will make an additional $300 payment to Person B. There will be a Final Value Fee of 5% on the additional $300 only.
2nd Example: Person A has a judgment valued at $500. Person B has a judgment valued at $400. Person A offers Person B to trade their judgments. If Person B accepts the trade, Person B will make an additional $100 payment to Person A. There will be a Final Value Fee of 5% on the additional $100 only.
3rd Example: Person A has a judgment valued at $750. Person B has a judgment valued at $750. Person A offers Person B to trade their judgments. If Person B accepted the trade, the judgments will be traded without any financial transactions. There will be NO FEE on this transaction.
Yes. At Judgment Markplace we take every measure possible to keep your data private and secure. We provide end-to-end (between your browser and our web server) encryption for all user data via SSL/TLS. This means that even on public Wifi it would be very difficult for a 3rd party to eavesdrop on your communication. Depending on the browser you are using a padlock icon will appear in the address bar or in the status bar, additionally your address bar might turn blue or green.
The official decision of a court at the completion of a lawsuit.
A Small Claims Judgment is typically under $5,000. As a Small Claims Judgment Creditor you have the same rights as any other judgment creditor.
The Small Claims Court is a part of a court system where a person can sue for money damages only up to a specific amount (usually $5,000). That amount is set by state law and may change from time to time. You do not need an attorney.
