ENHANCING COLLECTION POST-JUDGMENT

HOW THE AGENCY CAN HELP

We just gave a talk to a group of 35 collection agencies from around the country. I was asked to talk about how agencies can help the local attorney effect satisfaction of a judgment. The best collection agencies are just as involved in reviewing post judgment activities as is every other aspect of the case. What should the correspondent be looking for during post judgment activities? For example, if there is a bank account in the file it never hurts to remind the local attorney about that information. Many months may have passed since the file was opened. That information may be buried under an inch or two of correspondence and court papers.

Is there a credit report, a credit application or financial statement? The local attorney should be reminded to review these and report recommendations and disposition of debtor's assets. When we open a file we note for future reference post judgment information so that when and if the time comes to execute the information won't be missed by the attorney who handles that process. Correspondents should never be reticent about discussing these issues with a receiving attorney. If the attorney knows commercial collection protocols, that attorney will be grateful for the reminder. It's only by enlisting the assistance of the credit manager, agency correspondent and the receiving attorney that the maximum recovery can be effected.

If all else fails in my efforts to enforce a judgment I find it is often appropriate to talk with the credit manager after review with the agency. The credit manager or sales representative who handled the transaction can often give the attorney additional information to help him effect recovery. It's not unusual for a credit manager to say to me, "Oh, didn't I tell you about Mr. Smith's other business interest", or "I know he was buying an apartment building at the northwest corner of 51st and Kenwood". The more all of us understand about the way judgments are collected the more we can help each other gather information that will end with the best report we can write, "Check enclosed".

The material contained herein is not to be relied upon as a substitute for consultation with your attorney.