New York, NY, September 07, 2012 --(PR.com
)-- Compliance issues are a hot topic of conversation within the ARM industry. Without compliance a judgment risks actually costing a firm more than it’s worth through unforeseen court costs.
Eltman, Eltman & Cooper, the dormant judgment experts, have released a white paper explaining compliance landmines and how to avoid them.
The paper lists out the following about judgment inventories and the explosive issues that could be involved within them:
· No judgment actually exists
· No judgment copy actually exists
· Inaccurate judgment data on balances differ from a creditors system balance
· There is no record of vacated judgments
· There is no record of dismissed judgments
· * There is no record of satisfied judgments
· There is no assignment of Judgments filed in the case of purchased agreements
· There is continued enforcement attempts against debtors who have left the judgment state
· The judgment has expired
The paper then goes on to put forward a solution to these problems – developing a comprehensive judgment validation program.
Once this is done a properly administered judgment validation program has benefits.
· Higher liquidation rates
· Lower compliance risk
* Big increases in netback
Please contact BPlyshevsky@eltmanlaw.com or FBraverman@eltmanlaw.com for a copy of this White Paper.