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Has anyone sold any debts to any collection agencies on LI? I have a court judgment that is getting too much to bother with and I may just sell it. Any recommendations?
I used a company in Bellmore called Accounts Retrievable Systems. It was almost 17 or 18 years ago, but they got the money. They took 1/3, which I didn't mind because I was going no where fast in my efforts to collect. They had the money in my hands within 3 months of me first contacting them.
I had a couple of uncles in Brooklyn decades ago that specialized in collecting debts. I assume they were quite efficient at it.
They also specialized in loans...usually with sub-prime borrowers. They never needed a government bailout either.
I had an uncle like that also, when I asked my Aunt where he had been lately she said "He's Upstate" I said I did not know they had a place upstate, She said he was staying as a guest of the state. Now I get it.
Let me get this straight. Someone owes you money and you are going to give it to a firm to try to collect it? I have never heard of that. I know business do that but I did not realize that anyone could do that.
Let me get this straight. Someone owes you money and you are going to give it to a firm to try to collect it? I have never heard of that. I know business do that but I did not realize that anyone could do that.
Collecting on a judgment isn't as simple as it sounds - I speak from personal experience . It's a contingency fee; they only collect if they succeed in getting the money, and sometimes there's none to be had... Or the individual has moved and needs to be tracked down in order to collect, etc.
Collecting on a judgment isn't as simple as it sounds - I speak from personal experience . It's a contingency fee; they only collect if they succeed in getting the money, and sometimes there's none to be had... Or the individual has moved and needs to be tracked down in order to collect, etc.
That's very true. I believe my case, having been resolved so quickly, was more the exception. Timing had to have played into it because the money was retrieved around tax time. Or the collector was tenacious. Or both.
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. It's a contingency fee; they only collect if they succeed in getting the money, and sometimes there's none to be had... Or the individual has moved and needs to be tracked down in order to collect, etc.
