When you win a lawsuit and get a lien against property, it can be secured with real estate. Some judgments relate directly to the real estate, so you can collect even if they don’t have any money in the bank. Others are tied to a vehicle or other personal property. No matter what property your lien is connected to, collecting on it can be a lengthy and complicated process. You can call a company such as Mayflower Judgments and sell it to them.
Why Should You Sell Your Lien Against Property?
The main reason to sell your lien against property is that you can get paid cash in as little as 48 hours. The problem with trying to collect these liens is that it can take a long time to get the property that is securing the debt. It can be frustrating and cost you more money to hire attorneys, investigators, and more to try to collect.
As soon as you contact a company that buys liens against property, they will have an evaluator thoroughly examine your lien. If everything checks out, they will give you a free price quote. You can choose whether to accept it or not, and if you do, you can get paid in as few as 48 hours.
Why Is It Hard to Collect on These Liens?
People often have to use their home as collateral for larger loans. This is standard with a mortgage or an equity line of credit. Sometimes they borrow money and the judgment attaches their assets. This can include other types of personal property, such as vehicles and other assets. Once you have the lien on property, the debtor can’t sell the property until the lien is released or removed. However, sometimes they don’t want to sell the property. This makes it hard to collect. In these cases, you can benefit from contacting a company that buys these liens.
