Creditors – Why Major Creditors Are No Longer Ignoring Judgments

Why Major Creditors Are No Longer Ignoring Their Unpaid Judgments

A number of factors have led creditors and their collections vendors to ignore the unpaid judgments segment. Historically, many creditors have not seen high collection number on older or unpaid judgments, and the compliance needs of the current market have made creditors hesitant to collect in new segments.
Recently, this trend has shifted as major creditors have launched highly dormant judgment liquidation programs.

Eltman Law has pioneered a new judgment enforcement solution that efficiently handles all of the compliance concerns and also significantly increases liquidation rates in this segment.

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*Based on historical data from close to 1 million judgments handled by Eltman Law. Prior results do not guarantee a similar outcome.

For more information: Call 212.660.3164 or e-mail: BrBoyle@eltmanlaw.com

Creditors – What You Need To Know About Unpaid Judgments

What Every Creditor Must Know About Their Unpaid Judgments

80% of judgments go unpaid. The reality is that network attorneys are experts in obtaining judgments, not in getting them paid.

Compliance Risks in Unpaid Judgments

The older a judgment gets, the higher likely it is to be a significant compliance risk. Law firms must verify judgment data accuracy for CFPB compliance before they can even attempt to collect on it.
Unfortunately, for most firms, the cost of judgment data compliance audits outweighs the returns they would get on legal fees.
This leaves creditors with a two-pronged problem – missed collections revenue and increased compliance risk.

A Solution to Creditors’ Unpaid Judgment Woes

Creditors must segment legal collections separately from other legal accounts. This is especially true for older judgments that have not been collected on.

Legal network managers can use this as part of their existing firm consolidation efforts. Instead of keeping assorted judgments scattered across the firms that obtained them, network managers can consolidate their nation-wide judgment inventory with just one multi-state firm.

Eltman Law is a national collection firm that pioneered the unpaid judgment collections & compliance niche.

Statistics show that we collect up to 3 times as much as network attorneys in the unpaid judgment segment. We are able to invest our own resources into our client’s judgment data compliance because we are confident that our collections revenue will support the cost of our compliance audit.

This means more collections and less compliance risk for our clients.

Call (212) 660-3164 and give us an executive summary of your judgment inventory. We’ll give you the next steps.

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Creditors – Boost Your Bottom Line

Boost Your Bottom Line with Unpaid Judgments

New compliance pressures facing the industry are causing creditors and debt-holders to face lower collections numbers across most if not all collections segments. Eltman Law can increase creditors’ bottom lines by unlocking the value in their unpaid judgment inventory. Here’s how we create additive revenue for clients:

• Enforce judgments nationwide
• Service your national judgment inventory as one multi-state law firm
• Individually audit each judgment in your inventory for no additional fees
• Confirm that all judgment data is both FDCP-compliant and collectible
• Robust asset location and execution process, bolsters the segment through involuntary payments
• Bears the full economic risk of as many as seven thorough asset investigations per eligible account
• Often locates enforceable assets that network attorneys were unable to identify
• Can collect on accounts where the debtor has moved out of state

For more information: Call 212.660.3164 or e-mail: BrBoyle@eltmanlaw.com

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Creditors – A New Solution Triples Collections

This New Solution Triples Collections on Unpaid Judgments

We have pioneered a nationwide judgment enforcement process that often triples collections on unpaid judgments when compared to creditors’ network attorneys.*
The post-judgment segment often remains ignored by even the most sophisticated legal networks, causing as many as 80% of a given creditor’s judgments to simply go dormant and unliquidated.
Not only does this leave potential collections locked inside of their judgment inventory, it also creates increased compliance risks.
The only way to maintain accurate and CFPB-compliant data in a pool of unpaid judgment accounts is to systematically audit the entire inventory. This process is too costly for most collection firms, so they often allow incorrect balances and other data errors to remain on accounts they consider ‘warehoused’.

A Judgment Audit That Pays For Itself

Eltman Law has pioneered a new collections process that includes a full judgment audit. Our asset location and execution is so robust that we can confidently unlock enough value in clients’ judgment portfolios to pay for the costs.

With our judgment enforcement solution, we bear the full economic risk of asset investigation as well as the cost of a comprehensive judgment data accuracy audit. This approach allows our clients to have a fully compliant judgment inventory and often triple the collection numbers they had prior.*
*Based on historical data from close to 1 million judgments handled by Eltman Law. Prior results do not guarantee a similar outcome.
For more information: Call 212.660.3164 or e-mail: BrBoyle@eltmanlaw.com
Eltman Law (www.eltmanlaw.com) is the industry leader in unpaid judgment management. Our innovative process uses deep data mining, nationwide asset investigations, and nationwide legal executions, to liquidate on accounts that other firms could not find value in.

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