I am a landlord and just filed with the county sheriff for garnishment of a bad debt - a prior tenant. The tenant has a job and is being garnished - I just don't want to wait fo so long to get the full amount (Around $6000)
Is there a market for these things? I know people do discount these revenue streams -just not sure how I can find a buyer.
I'd probably discount it significantly as I need the money to pay real estate taxes by the end of the year.
As others have suggested, if you're considering taking a 50% discount on a revenue stream you feel is low risk because you're having cash flow issues paying those property taxes - I'd recommend you seriously separating these two unrelated concerns and deal with each in most financially astute manner individually.
You'll keep more of your hard earned cash
You don't have the hassle factor and uncertainty of trying to become proficient in an esoteric field of financial knowledge by Christmas!
I think you want to look at companies that buy annuities and give you a lump sum. They exist to do this for lawsuit payments, lottery winnings, etc.
I'm not sure what the fees would be on a relatively small payout of $6K but try searching for "converting annuity to cash" and the first several hits were all firms looking to buy structured payment settlements for a lump sum.
They make their money by paying less than the present-day value of the annuity, so you will get less money this way than collecting your payments slowly.
You should be able to sell it to a collection agency. I just googled and this is the first results: CollectYourBills.com
You're going to want to work with a collection agency or law firm that specializes in collections. They'll buy the debt from you for something like 10-25% depending on the state and whether they are interested in something this small.
People who don't pay rent and get wages garnished for $6k are a bad risk. They'll discount the judgement significantly since the risk of bankruptcy is probably pretty high.
