Posted by JT-IN on July 08, 2009 at 07:13:27:
In Reply to: How do I deal with evictions and judgements? posted by Chyna on July 01, 2009 at 19:39:23:
These are the hazzards of collectings on J's. If your T is NOT collectible, meaning they have NO W-2 income, or NO other assets, then odds are against you being able to collect, at least for NOW.
What sometimes happens is that the CJ will appear on a credit report and someday the former T may wish to enter the world of credit worthy individuals, and if they apply for a loan within the time frame that the CJ is valid, (usually within 5-7 yrs, unless recertified), then they may approach you to payoff or settle the obligation. Occasionally you will get an unexpected sum of monies years down the road, but it is best to obtain the CJ, then move on (mentally). Otherwise you torment yourself and ruin future productivity. Realize that these losses are simply part of the LL biz.