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How much do you have to owe a creditor for them to put a judgment on you?
Wiki User
∙ 17y ago
There is no set amount, obviously the larger the debt the more likely it is the creditor will sue. Such a decisions is usually made on whether or not a judgment could be executed sucessfully. If the debtor is employed in a state that allows wage garnishment or bank account levy then a lawsuit is a viable option for the creditor as those are assets that are fairly easy to attach.
Wiki User
∙ 17y ago
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Can the courts put a lean on someone?
Property-yes. If you owe a creditor & they get a judgment they can garnish or in some cases put a lien on personal property which must be satisfied at the time of sale.
If you own a house with your same-sex roommate if a creditor wins a judgment can they put a lien on the house if you owe a lot in mortgage and have very little equity?
Sure, if a creditor wins a judgment they can attach any of your physical assets whether it's real property or personal.
Can credit card debt put a lien on your taxes?
Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.
Can a creditor put a lien on your mortgage over a 2000 dollar unpaid student loan?
Yes. If you owe a creditor money and you have an asset (such as a house), a creditor can put a lien against your asset for any amount, even $1.
Can a lien be put on your home when you are on disability?
Yes. Your creditor can seek a judgment lien in court.
Can a repo put a lien on your home in Ohio?
Yes. If there is a balance due on the loan and the creditor has obtained a court judgment.
If more than one person owns a piece of property and one of the people owe money can a creditor of this individual put a lien on the property or force the property to be sold?
Where there are joint owners a creditor of one can petition the court for a judgment. If the creditor is successful and the debt isn't paid then they could petition to partition (sell) the debtors interest. You may need to purchase that interest to keep your property ownership close with no third party owning an interest.
Can a credit card company put a lien against your property in North Carolina?
Yes, if they file suit and receive a judgment the creditor can execute the judgment as a lien against the debtor's property.
How can a judgment put a lien on your land?
Generally, the sheriff can sieze the property and sell it to pay the creditor the amount owed. Check your state laws. If the creditor doesn't request a sale and chooses to suspend action then the creditor need only wait. The recorded lien will affect any future sale or mortgage of the property. During the time it remains unpaid interest is added at an alarming rate. In Massachusetts the rate is 12 percent. A buyer or bank will insist the creditor be paid before completing any transaction. A lien originally in the amount of $1,100 was recently satisfied at a closing in the final amount of $3,600.
Can a credit card company put a lien against you?
A lien cannot be placed against an individual in reality. However, a judgment creditor such as a credit card company can place a lien against real property owned by a judgment debtor. The judgment creditor can take other steps as well to collect the debt, an example would be income garnishment.
Can a creditor that has charged off a debt continue to collect and put a lien on real property?
Yes, if the creditor sues the debtor and is awarded a judgment, the judgment can be executed as a lien against real property owned by the debtor. A "charge off" does not mean a debt is not valid nor subject to collection.
How can you put a lien on a creditor's vehicle to pay the judgment they owe you?
The creditor is the person who has loaned the money not the person who owes the money. The debtor owes the money and a lien is placed against that person's property by the lender obtaining a judgment through the proper legal procedure that are required in the state in which the debtor resides. Usually the creditor will need to sue the debtor in small claims or other state court in the county in which the debtor lives. Mechanic Liens can be recorded with the clerk of deeds or land record office by presenting the proper documents and following the methods required by the laws of the debtor's state.
