judgments

[jackblackburn]

I live in Florida and want to start a business buying judgments from plaintiffs and collect on them. What are the legalities of this kind of business? Is it legal? Is it practicing law? I'm told no because I buy the judgment and it now is my judgment. Any help will be appreciated!

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[Prairielaw]

I do not see how you are practicing law in buying a judgment and collecting from some one. But you will be bound by the state and federal laws on collecting debts. You should sit down and talk with a consumer rights lawyer is very familiar with debt collection practices before getting started. Doing what you are doing will be hard enough, let alone creating additional liability.

Law on, Kevin

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Kevin O'Keefe
Founder & Fearless Community Leader
Prairielaw.com
"More people helping people with the law than anywhere."

 

[EverestJudgment]

Legalities of buying judgments

I know this post was AGES ago but in case someone stumbles upon it and is looking for an answer.....

Kevin is correct that you aren't practicing law, however Florida is a VERY debtor friendly state. There is current litigation going on as to whether judgment enforcers (that would be YOU) are guilty of UPL. (Unlawful Practice of Law) It is very subjective and possibly at times not worth the fight, however if you have the thick skin to pursue this business and aren't afraid of a challenge (by lawyers and judges) then you should be just fine.

The basic point of contention is the agreement between you (the ASSIGNEE) and the JUDGMENT CREDITOR (JC). If you plan to buy the judgments outright and have the JC sign over their rights, you probably will not have a UPL problem. This however can be costly as you are paying for something that you are unsure that you will recoup.

Hope this helps... and if you have any questions... just ask!

Robin...
Not an expert...not a lawyer... just a know-it-all