💡 Tips & Info / Judgment Assignment Explained

What's a Judgment Assignment?

It’s when someone else takes ownership of your judgment.

It’s done by filing a document with the court, typically titled “Acknowledgment of Assignment of Judgment.” This tells the court you are giving up ownership of your judgment and that someone else now owns the judgment. You will have to sign this document in front of a Notary Public before filing it with the court. 

The person who now owns your judgment is called the “assignee” and also the “judgment creditor.” You were the “original judgment creditor.” Whatever payments the debtor is compelled to make, whether directly or through liens and garnishments, would now be made to the assignee and current judgment creditor. 

Meanwhile, you and the assignee would have a contractual agreement stating that you will get a percentage of whatever they collect. 

If you currently hold a judgment but don't have the time, energy and/or money to collect, consider the pros and cons of assigning your judgment.