Walter Small Business: For years we had a great business relationship.
We shared rental space, did joint promotions, and made money together...
not a lot of money, but we made money. Then he got into trouble with the
IRS, something about back taxes on some land. He was in a bind so I loaned
him some money.
Gene Skiptracer: How much money?
WSB: $8,700.00! That was three years ago. When he got back on
his feet again, he wouldn't talk to me about repaying my money, or even
return my phone calls. So I went to court and got a judgment against him.
GS: What type of business does he have?
WSB: He owns PR Trucking Company. He has five trucks and his biggest
customer is Stay Lowe Food Market
GS: Is your judgment against him or against the company?
WSB: Against both.
GS: I think you can get your money fairly easy. Who supplies his
gas?
WSB: Reader Oil Company. He pays for consignments and has a storage
tank almost as big as a gas station. They make two deliveries a month.
GS: This is how you can get his attention and make him pay. Have
your attorney file garnishment papers requesting a third party levy. A
third party levy is a powerful collection tool.. You can garnish the Stay
Lowe Food Store and request that it surrenders all money being held for
the judgment debtor. You can also use a third party levy to seize all
products being held by a third party for the judgment debtor. If PR Trucking
pays Reader Oil Company for a consignment of gas, you can petition the
court to order Reader Oil Company to release the gas to you. Once it's
in your possession you can auction it off to pay for your judgment. Third
party levies can be used to garnish bank accounts, stocks and bonds, or
any other valuables being held by a third party.
Gene Allen is a collection specialist with 11 years of experience
in the industry. His new ebook "Powerful Secrets of Bounty Hunters
& Lawmen for Tracking Deadbeat Cash...Guaranteed" gives practical
tips on asset location. http://www.digenrecovery.com
