Re: Whats the point of a judgement if they dont collect?

Posted by Why Chat (209.240.205.61) on January 29, 2004 at 17:59:52:

In Reply to: Re: Whats the point of a judgement if they dont collect? posted by Parry on January 29, 2004 at 17:49:47:

The point of the increased lawsuits on uncollectible judgments has to do with $$$-- but not the debtor's $$$.

In these days of increased defaults and shrinking collections, many of the CA 's are seeking business financing, mergers and buyouts.

Unlike a collection account which can only be shown for accounting purposes as an asset based on it's 5¢ on the $ cost, a filed judgment can be counted as an asset at 100% of the claimed amount.

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