Lien procedure

[maloneem]

What is the name of your state (only U.S. law)? Wisconsin


I am looking into purchasing a judgement amount and placing that judgement as a lien on a house that the person who owes the money owns.

If i were to purchase the judgement amount, and have the right to collect it, what legal forms would I need to have completed in order to be on record as the lien holder? Would I need to have a notary notarize the documents?


Thanks,

 

[racer72]

Are you a licensed debt collector? If the answer is no, you can't do what you propose.

 

[Willlyjo]

Are you a licensed debt collector? If the answer is no, you can't do what you propose.

You are wrong! You don't have to be a licensed debt collector. You need only to get the judgement creditor to sign the judgement over to you.

You WILL have to get the judgement creditor to notarized a document signing the judgement over to you and then you file it with the court that has jurisdiction over the judgement.

Once that happens, it is your judgement and you can use judgement collecting techniques within the laws of your state to collect your judgement. A lein is one thing you can do, but there are other things that may be able to get your judgement paid much quicker.

You do not need a license to collect your own judgement!