For anyone who likes creative asset trades: willing to trade this for a vehicle valued at $30k+
I have a court-ordered judgment with a current balance of about $98k, accruing 10% annually under California law.
For a business owner, taking assignment of a judgment can create an asymmetric upside: the full $98k + interest is the potential recovery, while your downside is only whatever basis you have in the asset you trade.
If your business takes assignment, makes reasonable attempts to collect, and ultimately can’t recover the full amount, your basis can be treated as a business bad-debt loss, which offsets ordinary income.
Definition of my loss is your gain. I’m only trading it because I just unexpectedly had to move back to the states and need car quick.