Judgments Are Not Worth The Paper They're Printed On


The current economic crisis is making the debt collectors scared. When there’s no money to put food on the table, even a favorable judgment through the courts means nothing. The judgment by itself doesn't get you paid, according to Cincinnati debt collection law firm Slovin & Associates partner Randy Slovin.

InsideARM is reporting that the old tactics of collecting money from consumers are out the window as unemployment jumps higher each day. Collection lawyers no longer have the ability to attach and garnish wages, because there is nothing to attach. Many consumers have already lost massive amounts of their personal goods and property through foreclosure, liens on real estate, repossession and other actions, leaving legal collectors without any resources to collect funds owed.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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