After receiving your account via our Claim Request Form, NJIC reviews and formulates a collection process based upon numerous factors including aspects of the client’s industry. Typically, our collection effort begins with a demand letter including documentation provided to us by the client, which validates the veracity of the debt obligation. Depending on the response, or non-response, NJIC collectors will follow up with emails, calls or text messages to get the attention of the debtor to come to an amicable resolution. NJIC will accept no settlement without the client’s authorization.
Frequently Asked Questions
National Judgment Investment Corp. is a national debt recovery firm. NJIC collects monies due to commercial creditors who are owed by commercial debtors. Unlike “traditional collection agencies”, NJIC uses experienced collectors who are collection attorneys, paralegals and trained business professionals. Based upon NJIC’s extensive lawyer network, NJIC can pursue debtors anywhere in the world. This allows NJIC to handle a creditor’s claim from initial placement through to post-judgment recovery.
NJIC’s fees on straight collections are always contingent upon the recovery of any monies. If no recovery is made then there is no fee due to NJIC. NJIC’s straight collection fees are listed in the Fee section of this site and range from 20% to 45% depending upon the dollar amount of the claim. If litigation is required, NJIC’s contingency fees are typically 35% of the amount of the recovery. Depending on the nature, age and/or size of the claim, in some situations, there may be charged a non-contingent suit fee to place the claim into litigation. This charge will only be imposed if approved by the client and NJIC.
We include a discussion of fees on our fees page.
There are several ways in which a creditor can place a claim for recovery with NJIC. First, a creditor can place a claim with NJIC by submitting the claim through the NJIC website by following the provided form. Second, if a creditor is unsure as to submitting a claim online, he has the choice to contact NJIC directly by either telefaxing, emailing or through the US Postal Service. If you need to speak with us, our telephone number is 215-646-9520.
NJIC focuses on collection services for large corporations, including the Fortune 500. We have expertise in healthcare and technology but also work in other fields as diverse as manufacturing, business services, and medical devices. We also serve international companies to help with worldwide collection efforts and have offshore litigation and asset finder services.
NJIC does not require contracts to be signed when placing a claim for recovery. The terms of NJIC’s representation of the creditor is contained in our Fee section. For those clients who wish to have a debt recovery services contract, NJIC will draft the contract to be approved by all parties.
One of NJIC’s specialties is locating assets of judgment debtors and attaching those assets in order to satisfy money judgments. If you have an existing judgment that has yet to be recovered, simply click on the Claim Request Form and complete the information requested. One of our customer service representatives will follow up with you shortly to further discuss the matter and negotiate a fee arrangement with you. If a creditor is unsure about submitting a claim online, he has the choice to contact NJIC directly by either telefaxing, emailing or through the US Postal Service. If you need to speak with us, our telephone number is 215-646-9520.
NJIC remits to our clients once a month. Our remittance check is accompanied by a Trust Statement, which lists the client’s account placed with NJIC together with our commission fee rate. The Trust Statement will break out NJIC’s and the client’s commissions on the payment recovered from the debtor.
NJIC looks at its relationship with its clients as partnerships meaning we may require the clients’ assistance in recovering the outstanding debt obligation after the account is placed. For instance, after placement, we require the client to turn back the delinquent customer to NJIC in the event the customer contacts the client after NJIC’s demand notice. It is important to have “one voice” in the management of the collection process and allow NJIC to do its job. From time-to-time, NJIC may also need the client to provide additional documentation, which allows us to further validate the balance due and owing.
NJIC will always exhaust all avenues of recovery before a discussion about litigation with the client takes place. NJIC will only recommend suit if we believe (1) the customer is in business, (2) any customer dispute is meritless, and (3) the customer is solvent to satisfy the suit to be filed either pre- or post-judgment. Once these threshold requirements are answered and the client authorizes NJIC to move forward, we will select co-counsel to work on drafting the complaint and otherwise assisting in the prosecution of the action. The client will be responsible for court costs, which NJIC will review with the client before any suit is filed. Typically, court costs range from $350.00-$700.00 depending on the venue of the action. Our fee for litigating is generally 35% contingency, which includes a payment to our co-counsel; there are no hourly rates.