understanding what it means to get a judgement?

[Account Closed]

If a tenant is evicted, is that the equivalent of getting a judgment in order to pursue them in collections? I just want to make sure I understand how this works. Thanks

[Nathan Gesner]

Quote from @Account Closed:

Allow me to expand.

The judgement states how much the Tenant owes you, but it won't help you collect anything. There are ways to garnish wages or bank accounts, but good luck with that. Have you heard how difficult it is to collect child support? Same thing.

Instead of getting a judgment that does nothing for you, consider sending the person to a collection agency. They will track the individual down and attempt to collect. If the Tenant doesn't pay after 30 days, the collection agency can report them to the credit reporting agencies. This will impact their credit score and potentially prevent them from qualifying for a car loan, credit cards, home loans, etc. It can also serve as a warning to other Landlords.

Collection agencies only collect about 1/3 of the time, but at least you get the satisfaction of knowing you've hurt them. Sometimes you'll get lucky and even collect! I just got a payment of $8,000. I'm getting monthly payments of $195 from another Tenant. Sometimes it works.