Judgment Collection Frequently Asked Questions | Information | FAQ
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:
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.
Why is there a fee for listing my judgment at a price higher than Judgment marketplace’s recommended asking price?
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.
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.
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.