Might this work?

[Nick Scalero]

I saw a posting stating "judgements for sale, pennies on the dollar" and I thought, could I help myself and the persons who have the judgements against them?

Consider this:
5 judgements at $1000 each
Purchase them for $100 each = $500 (assuming that's what pennies on the dollar means)

I offer the persons who have the judgements against them to pay a flat fee of 10% (my $100 back) then interest only on the balance for 3 years at say 10% interest. At the end of 3 years I release them from the judgement.

$8.33 per month x 36 months = $299.88
Plus my 10% flat fee = $100
Total return for 1 judgement = $399.88

Assuming I can get only 2 out of the 5 to agree to this arrangement. That's $799.76 / $500 or 60% in 3 years.

The others still have judgements against them. I could go after assets if I couldn't get 2 to agree to the repayment.

I've kept the numbers small just for calculation purposes. Certainly the model could be adjusted based on the number of respondents. It might be a lot of work on my part.

Any thoughts? Anyone with experience in buying judgements?