When you want your judgment purchased or recovered without spending any money, you need to find either a buyer or a contingency recovery solution. There are two ways to find these solutions, either from advertising or from a referral.
Judgment brokers refer people to solutions. Should you use one, or are you better off with a web search? This article is my opinion, and not legal advice. I am not a lawyer. If you ever need any legal advice or a strategy to use, please contact a lawyer.
On the web, every judgment buying and recovery company claims they are the best. Brokers know the track record of most buyers and recovery solutions. They know what works, and who can get results. If your debtor is poor, nobody will buy, or likely have success recovering your judgment. If your debtor has lots of available assets, brokers can find you a better deal than you could find with any web search. If you choose a judgment broker, make sure to pick one that:
1) Does not require any paperwork from you, except if they refer you to an attorney, one who will be a contingency judgment recovery lawyer matched to your debtor. If a broker is not referring you to an attorney, they should simply refer you, with no paperwork required.
Attorneys cannot pay referral fees to non-attorneys. When a judgment broker is not an attorney, they need to arrange a deal with the contingency attorneys they refer judgment owners to; to discount their contingency fees. The creditor and debtor screening the judgment broker does, makes many attorneys willing to discount their contingency fees a bit. When referring you to a lawyer, a judgment broker asks you to pay them what they saved you, only if you get paid. That is fair, and does not cost you anything.
2) Does not own your judgment. Beware of assigning your judgment to any person or entity that does not tell you exactly why that is required. A judgment broker has no business owning any portion of your judgment or debt.
3) Refers you to solutions based on their first-hand knowledge of the best experts to buy or recover specific judgments. The best brokers are objective, and know thousands of judgment buyers and recovery experts, and tracks their performance in a database.
A good judgment broker knows who can get a recovery or purchase completed, and who is a flake. Beware of brokers that refer you to their buddies or their own employees. Some companies claim they are objective, however they refer judgment owners only to their insiders.
The best judgment brokers are not middlemen, and are free to judgment owners. They get paid by judgment buyers and recovery experts. Brokers cost judgment owners nothing, and offer a faster and a more direct route to the best judgment solution. Without using a broker, it takes much longer to find a good solution – and probably not as good of a solution. Judgment owners will get the same amount of money for their judgment, regardless of whether they started with a judgment broker or not.
Judgment brokers are judgment referral experts. You do not need a judgment broker, however they save you hassle and time with reality-based solutions, based on knowledge and expertise, rather than by chance.