What If The Judgment Creditor Is A Corporation, Bank, or Mortgage Company
When unsure of the type of business a company is, Google their name and see what can be found. For example, say (2) creditors are on a named judgment: Diversified Financial Services and Texas Financial Corporate. If they are a large corporation, bank, or mortgage company, we move on to another lead because they will have their own in-house counsel to handle collections.
NOTE: A foreclosure judgment shouldn’t be pursued, as the bank often sells these as pools of deficiency judgments and they have extremely poor collectibility rates and do not have a quick payday. Further, when the bank repossesses the home, a deficiency judgment may be entered by the bank, and typically the debtor won’t own any other property to attach our lien to. Don’t seek deficiency judgments, and only consider them if they are 5-8 years old with a statute of limitations of at least 10 years.