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Old 01-16-2002, 05:10 PM
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Bob Minney Bob Minney is offline
LawnSite Bronze Member
 
Join Date: Jan 2002
Location: The Hottest driest city next to Hades - Denver Colorado
Posts: 1,094
Collecting Judgements

In Colorado when you win in small claims court you can file a judgement lien against the property for about $15. It is good for 6 years and accrues interst at 12%, unless specified in your contract. This will make it hard for the customer to borrow money until they pay you, it really strenghtens your collection position. Our county assesor keeps property records online, so I am able to check ownership before I extend credit.You can complete the whole liening and filing process in a few hours, plus recover all costs when you collect. The lien must be paid before they can sell the house. Yes they can bond around a lien, but for the dollars involved it is just as easy to pay. The listing agent can help you motivate the deadbeat at this point, they may have as big or bigger financial stake than you do. I save my serious collection work and court dates for the off season. No sense in wasting good production time with losers. Try Nolo publishing for State specific small claims information.
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