What assets or money can be taken from us if a judgment has been made against us to collect unpaid rent for a business we had to close?
It depends on the details. If the business was incorporated and the judgment was against the corporation the creditor can only take business property and assets. If you owned the business as individuals then a judgment creditor can take any of your assets to satisfy the judgment: bank accounts, vehicles, boats, equipment, real property, etc.
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Is compensation for an injury considered an asset that can be taken in a judgment against the person who received it?
Answer . \nIt depends, some states have laws that protect funds garnered from a personal injury award from attachment/seizure by creditors. If the judgment concerns a lawsuit that involves damage to personal property or personal injury the funds are generally not exempt from seizure by the winnin…g party, but are viewed as private assets/income. However, there may be contributing factors, one would be if the original award pertained to a permanent disability. (MORE)
Japan was nowhere near even having the technology or resources to think about it. Answer I've read some about this and the Japanese had made remarkable progress in understanding the atom and theoretical possibilities concerning a bomb. However their program was operating on a shoestring (as I rec…all only 3 or 4 scientists had any involvement) and the resource base was lacking. It is conceivable that given another year or two, with decent funding, the Japanese might have developed a bomb. Delivering it to the USA would have presented a whole new set of problems. Germany on the other hand, had a much more advanced A bomb program although it too was not funded adequately - I'd suggest that was largely due to the demands of the eastern front that was consuming 80% of Germany's war economy output. That, combined with rampant 'creative incompetence' among many in the scientific community, meant that Germany too, was blocked from having an effective weapon by war's end. However - Germany did possess the wherewithall to put out a 'dirty' bomb that could have rendered major urban areas uninhabitable. It was, obviously, never completed. Answer Neither Japan nor Germany had an effective nuclear weapons project during WW2. Germany was the closest, with a reasonably advanced research project staffed by a small (but very highly educated and competent) staff of highly respected physicists. However, their original assessment of the difficulties in building a bomb was that no country would be able to complete it until the very late 1940s at the earliest. Additionally, the Allied powers embarked on a program of systematically destroying key components that the German nuclear program needed to make progress. By the end of the war, Germany had merely managed to build an atomic pile, the precursor to building an actual reactor. They were nowhere near having a completed design, and didn't have any of the industrial infrastructure to produce nuclear fuel. It is doubtful that Germany could have built even a "dirty" bomb. Japan was in an even worse state. They had very few nuclear physicists (and none of the intellectual stature of the Germans), and a large amount of their nuclear technology and nuclear fuel came from Germany. The Japanese nuclear program suffered from a complete lack of funding, too. They hadn't even managed to get a nuclear pile running by 1945, and had very little nuclear fuel available for experimentation. It is pretty much a flight of fantasy to assume that Japan could even have produced a dirty bomb, and likely would never have developed an atomic bomb themselves for a decade or more. So, the answer to the question is: Japan had no possibility of using an indigenously-developed atomic bomb against the US during WW2. (MORE)
When a judgment has been made against a person will this affect checking or savings accounts in Michigan?
Answer . \nA writ of judgment can be used to levy a checking or savings account that belongs to the debtor. Joint accounts can be partially protected but the other account holder must file the proper documents with the court where the judgment was granted. The bank has no obligation to notify the… account holder(s) that the account has been levied. The account holder(s) should remove funds and close the account if at all possible. This can only be done BEFORE the judgment has been executed. (MORE)
Answer . \nUnless the judgment can be proved to be faulty the debtor has little choice but to try to protect as much personal and real property as is possible. All states have a set of exemptions which protects specific property from attachment or seizure for the repayment of debt(s). The preferr…ed methods of executing a judgment are wage garnishment and bank account levy. However, judgments can also be used to place liens against real property or to initiate a forced sale of any non-exempt property belonging to the debtor. It would be in the best interest of the debtor to obtain legal advice, most attorneys offer free or minimal fee consultations. If the person is not certain what type of legal counsel is needed they should contact the state bar association or legal aid service in the area where they live. (MORE)
If your wife is sued for something that happened before you were married can a judgment be made against your assets in N.C.?
Answer . It would be possible for a judgment creditor to levy a marital bank account that was held as joint tenants. The non-debtor spouse would be responsible for submitting proof to the court the amount of funds which belonged to them. Likewise if the couple have jointly owned property a judgm…ent creditor would be able to place a lien against the debtor's share, but a forced sale of said property would not be possible. What would determine if such action is possible is how the property is titled. (MORE)
If you have a debt in collections or a judgment but have no property in the US can your creditors collect on property or assets in another country?
Answer . \nNo, judgments or debt collection procedures cannot be enforced against the debtor's property outside of U.S. borders. Where large debts have been incurred in conjunction with a business, litigation action has been somewhat sucessful in U.S. Commonwealth countries like Puerto Rico.
Like anything there may be an exception, but more than likely yes...absolutely! The party owed the debt is allowed to use any and all legal means to collect it, until the entire amount that is due them is received. Once there is no debt all actions must cease. There is no requirement that only one m…ethod be used and in fact, if the debt allows it (most do), the amounts expended for each of the methods may increase the debt to be collected by each of the collection methods. Conversely - someone under a judgment has no "right" to avoid paying it, using either one or any number of methods of avoidance, including ignoring legal demands. The obligation is to pay your debts, actually before they become judgments. Obviously the laws would rightfully generally be on the side of one owed an amount. No. A judgment creditor can only execute the writ in one form, such as a wage garnishment or bank account levy. A single judgment cannot be used in multiple ways to collect the debt. This is one reason wage garnishment is the preferred method of creditors as the garnishment will stay in effect until the debt is paid. If multiple creditors have obtained judgments against the debtor the judgments will be enforced according to their priority. Multiple judgments cannot be executed against a debtor at the same time. For example if several judgment holders place liens against a debtor's property the first lien holder gets paid first, and then the second and so on. The same holds true for wage garnishments or the levying of bank accounts. Additionally the debtor has the legal right to protect exempted personal and real property from creditor attachment to the extent allowed by state and federal laws. (MORE)
What action can be taken if a debt collection agency sued you and default judgment was passed for an unpaid debt if you are temporarily out of the country for a 1 year assignment?
A motion or application for an order vacating or setting aside the judgment may be made if service of the complaint had not been made properly. Before a judgment can be entered against a debtor, the complaint must be served on the debtor personally or sometimes if the court allows, by certified mail…. If the debtor was not served with the complaint because he was out of the country and if he did not know about the lawsuit, the judgment entered would be void. But because the judgment is on the public record as a judgment, the debtor has to ask the court to set it aside. If the court agrees that the judgment should be set aside, it will enter an order vacating the judgment , but it will also reinstate the case as if it were just filed. By filing the motion to vacate the judgment, the debtor has automatically acknowledged service of the complaint, so there is no longer a need for the plaintiff to serve it and the case will start again. In addition to this, a debtor in that situation should also review very carefully the documents the collection agency filed in order to prove to the court that the debtor was properly served. If that "proof" was falsified, the agency could be in violation of state and federal debt collection laws, perjury laws and contempt of court rules. (MORE)
\n. \n Answer \n. \n. \nPaying off the judgment is a good option. It can prevent liens on your property and garnishments on your wages, which also tend to get your employer upset.\n. \n Alternative Interpretations \n. \nIf the debtor wants to protect his or her funds that are deposit…ed in a checking or savings account from being levied by a judgment creditor, then the only option is to close the account before the banking institution is served with the levy order.\n. \nBe advised, that action may or may not suffice, as the court could have the power to order all funds to be returned and frozen until it is decided if the conveyance was legal.\n. \nThe debtor cannot take any action in regards to an account that has already been levied. If the account was joint and only one account holder was named on the judgment, the innocent party will have to prove to the court the percentage of funds in the account that is rightfully theirs before the court will release any monies.\n. \n. \n Another Alternative \n. \nWhile I certainly support answer 1 - because paying your debts is simply the right thing to do, it makes sense financially speaking too...as you'll probably not avoid doing so perpetually and interest and fee's will continue to accrue at a likely higher rate than you'll get an an alternative investment.\n. \nbut, if you insist, I believe most qualified retirement accounts, like IRAs and such, are exempt from seizure. (MORE)
If you can't pay the judgment, it will continue to accrue interest at a rate that is generally established by the state legislature each year. State law will provide that the judgment is enforceable for a fixed number of years, the number being established by the statutes of the state in which the j…udgment is entered. There will also usually be a process by which the judgment creditor can renew the judgment's life for one or more successive periods. (MORE)
If a judgment has been made against a debtor and the debt is turned over to a collection agency is the agency able to garnish wages without taking the debtor to court?
If a judgment is in place the judgment holder can execute it under the provisions of the law of the debtor's state. It would not be necessary for the creditor to transfer the debt to a collection agency.. That being said, a judgment is not transferrable, so if the original judgment holder did not r…ecord the judgment and take action they could not simply "pass it on" to another collector unless that collection agency was acting in their behalf and was part of the original suit. (MORE)
Answer . Depends on what state you are in. Some states allow a creditor to garnish your wages or take the funds from your bank account. Of course, the creditor would have to know your bank info. or employer to do this. Some states also allow collection against your assets, i.e. home. It just dep…ends on what state you are in. In Texas, where I practice, a home is non-exempt from collection and wage garnishment is only allowed in child support cases. I do not know what state you are in to advise you specifically. Collecting on a judgment is a long process and is usually very hard work for the creditor b/c they have to find out what your assets are, where you work, which bank you use, etc. Depending on the amount of the judgment, it may or may not be worth it for the creditor to incur the expense of collection. It depends on the amount of the judgment and the creditor. I would consult a local attorney or bankruptcy attorney that is familiar with the collection laws in your particular state. Good luck. (MORE)
Answer . As of today, I know of almost a dozen investors, as well as myself, who has invested $10,000 plus dollars, and have not received any greeting cards.. I have been waiting almost 3 months, and I have not received any greeting cards.. On November 21, 2007, Premier employees, have stopped …answering the phones. The only persons answering the phones since November 21, 2007, is the answering service.. I have sent several letters, faxes, and emails to Premier, since November 21, 2007, and I have had no responses from their employees.. The Better Business Bureau has eight complaints against them, and they have all been in the last 4 to 5 months.. To answer your question about judgements. If there isn't any as of yet, I can almost guarantee you, there will be very soon.. Answer . It is almost certain that those who wish to press a civil case will wait until the criminal case is adjudicated. The two key figures in the scam are in custody, and the criminal complaint had been filed. See the related question below about a "discussion group" for scam victims. Note that these to clowns were involved in a similar scam with several different "companies" that all ran in a similar way. Those companies included USA Beverages Inc., Twin Peaks Gourmet Coffee Inc., Cards-R-Us Inc., Premier Cards Inc., The Coffee Man Inc., and Powerbrands Distributing Company. An individual seeking damages might "join forces" with others in the hopes of some recovery. (MORE)
It is always proper to use a complimentary close in a business letter unless you are writing a simplified letter, in which case both the complimentary close and salutation (i.e. "Dear Mr. Jones") are omitted.
The plaintiff may now demand that a bank or broker freeze your accounts, and that a sheriff of marshal seize accounts or other property. The plaintiff may also file a lien against any recorded property, such as real estate. If the assets are hard to find, the plaintiff may require a deposition calle…d a debtor's examination to require you to disclose your assets. Certain assets may be protected from seizure by federal or state bankruptcy laws. (MORE)
Churches are institutions and therefore have similar financial practices to most other institutions in respect to property, personnel, supplies, legal fees, etc. Money collected during a catholic church service is used for the upkeep of the church property and the support of the priests and religiou…s servicing that church as well as those things needed for services. Alms for the poor, family aid and other donations are taken from the collection as well. Dioceses are to catalogue, regulate and prioritize spending, which not only includes supporting its properties and religious but might also include running schools, hospitals, care facilities, seminaries, convents and monasteries and social clubs. Certain collections may be made for foreign missions or certain local or international causes. Church finances are not public domain knowledge and so information regarding precise holdings and transactions is difficult to obtain or verify. It cannot be denied that sometimes the money is used badly, as the opportunity is there for unscrupulous priests or bishops to dip into funds for extravagant personal purchases. Often when such scandals come to light they are highly publicized, though they are certainly the exception and not the rule. (MORE)
What can a lender attach after a deficiency judgment has been issued against you and how far back if at all can they go to attach assets that have been disposed of?
Answer . In most jurisdictions the bank can attach any other assets you have. They cannot attach assets you transferred LEGALLY prior to this action unless the transfers were made for the purpose of avoiding creditors. If that was the case they can seek a judgment to capture the property so transf…erred. (MORE)
Should a constable serve a certified letter to a tenant that a judgment has been made against in the hope of collecting money owed which the courts have made the decision to garnish his wages?
A constable cannot serve a certified letter. Certified letters are from the US Postal Service, while a constable is a court employee used to help execute on judgments. Some courts may permit a constable to use certified mailing as opposed to personal servicet, to give debtors notice of wage garnishm…ent. If the certified mailing is accepted or even refused by the debtor, service will be deemed complete. Service by certified mail is usually accompanied by a mailing of ordinary mail simultaneously. If the certified mail comes back because it simply was not picked, the ordinary mailing proves that the debtor lives there if the ordinary mailing does not come back as Addressee Unknown. These methods of service may not be utilized in all courts, so the debtor has to look into the court rules where the judgment came from. (MORE)
The dividend account is used to record transfers of assets from abusiness to its stockholders. It is a temporary account that closesbefore the end of the accounting year.
Can I get a mortgage with a judgment against you from an unpaid credit card I have fairly good credit otherwise but I have a judgment against me for an unpaid credit card from 2003. Thank you?
one of 3 things could happen. 1. denial of loan 2. the mortgage company will pay the judgment and tac it on. 3. or require you to pay it and provide proof that it is satisfied. *** here is what you need to do** tell the person who has the judgment you are considering filing a chapter 7 b…ankruptcy, and that you will include them in it unless they agree to settle for 50% of the amount and agree to delete the judgment and the account from your crfedit file all 3 of them. make sure you get their signature in writing first and that you agree to pay them within 30 days . or you could dispute it with all 3 credit bureaus and hope they don't respond and it falls off but be aware all 3 credit bureaus and most creditors are computerized and will reponse very quickly. it will work out in your favor. STAND YOUR GROUND BE FIRM. (MORE)
A judgment is a debt that is legally owed by a debtor. It is acourt ordered payment demand. An unpaid judgment is a judgment thathas not been resolved.
Huh? Take money from what...one obligation to pay another? It is their obligation to pay the judgment AND to pay employees (and rent, and insurance, and utilities, etc). It is not the employees responsibility, nor the landlords, nor the insurance company, nor the utility.
it means one way or the other you will have to pay back the money
Did you look at your pocket change? Check out snopes.com? URBAN LEGEND, pure and simple, fomented by a number of small right-wing groups who have spread the rumor via various Internet chat rooms and blogs. There is not now and has not been ANY effort whatsoever to remove the motto. To keep… this in perspective, please note that the motto was first used only on 2Â¢ pieces in 1864, and it took until 1938 for it to be incorporated onto all circulating coins. It was never used on paper money until 1957 , when there was an uproar over the "threat of godless Communism". (MORE)
In Florida a summary judgment is against you for a business that could not finish the lease you lost your business and all your money what can the owners get from you now?
You can be ordered into court and they can ask you any question under oath about your assets, if you have no assets or money try to settle for pennies on the dollar, if that doesn't work they can refill every 15 years against you which I doubt they will depending on the amount owed.. So anytime in …the future if you have the money to pay what you owe they can collect with interest, I'm sorry to say. (MORE)
A letter from the collection company or creditor who reported it or a lien release form if the judgment was placed in lien against property.
There is no special rule that says why should businesses use collection agencies. One of the most essential activities of a business is dealing with the accounts payable and there is going to be other business or consumers that will not pay on time, for business accounts that are delinquent 60, 90, …120 or more days, represent a tremendous lost. When a business goes after their delinquent account (past due accounts) may represent an enormous effort and resources to collect that account, some times business have in-house collection department, some business mix in-house with a third party collection agency. When collecting business debt a commercial collection agency usually is needed. So, this is up to the business, if they want to collect themselves or via a third party collection agency (MORE)
It is used to pay salaries for priests and other parish employees, for mortgage payments, for upkeep of the church and other parish buildings, for utilities, for educational programs (CCD, etc.) and for other day to day expenses of the parish.
Yes. You will have to disclose all judgments against you when you apply to law school and when you take the bar. It does not automatically disqualify you from becoming an attorney. I know of convicted felons who have gone to law school and practice, albeit sometimes in a limited capacity.
The person to whom you owe the money would need to file a document with the courts notifying them the judgment was satisfied. I would then suggest that you keep copies of these documents also since old debts some times have a bad habit of popping back up.
If a small business has a lawsuit or judgment against them can they take your personal assets such your house car and other monthly incomes not associated with the business?
If you operate as a soleproprietor then yes your personal assets can be used to satisfy the judgement. If on the other hand you operate as a corporation or a LLC then your personal assets are protected.
Whatever they can sell to reclaim their losses. You may need to proceed with bankruptcy to protect other assets. Consult an attorney for specifics.
The landlord's tacit hypothec -- It is an action that gives the landlord security for rent money that has not been paid. If the tenant has not paid the rent ,his goods are sold to cover the unpaid rent. When the goods are attached, it means an officer of the court will come and take the goods away a…s a form of security for outstanding rent and while the goods are on the leased property the landlord may interdict the tenant from removing them. (MORE)
Businessess uses money market generally for temparary needs of needs. They can borrow or lends accorrding to their needs. because they might really need the money badly
You were evicted from your apartment for late payment on the rent and your landlord wants to file a judgment against you for money owed?
First, he cannot just file for a judgment. He has to be granted a judgment by the courts. And this involves a hearing, which gives you an opportunity to file a counterclaim, objection to monies owed or anything else you feel is pertinent to your situation. Therefore, you need to attend this heari…ng. AND you need to pull out your lease and read what is in there in reference to late rent payments. Does it just say, if its late, you are asessed a fee? Or if you are late, you will be evicted? What does it say as this will be your reference point as this is the agreement you guys agreed to upon renting the apartment from the beginning. Now, the next step is, if he does prevail and obtain this judgment, DO NOT BLOW THIS OFF. This is very important, because if you don't pay it, he could enforce this judgment by, depending on your states laws, garnish your wages, obtain a Writ of Execution and have your personal property sold to satisfy this judgment. This means a constable would show up at your house and enter your house, making a list of personal property that is now locked in and if you don't pay this judgment, they take this property and sell it. So, take this all very seriously. Show up at the hearing...Give your side of the story, state any and all defenses you might have, gather all your evidence together to show as proof of your claims and if you loose, try and make payment arrangements with your ex landlord so you wont be surprised one morning when the cops show up and want to come into your home. (MORE)
Do collection agencies pay people up front money owed to them from a judgment against a party and try to collect it for that party?
Sometime, and in some states, collection agencies may purchase debts from lenders. In these cases, they buy the debt for pennies on the dollar, and work very hard at recovering the balance. This is actually a difficult and dangerous way to do it. As long as the debt remains with the original lender,… the options are more open. In most cases, collection agencies contract to collect the debt for the loan originator, the lender. The industry standard is payment of 33% of the recovered amount, or 50-75% on accounts that require the work of a skip tracer or legal action. (MORE)
Go to your local courthouse. File a small claims court case against the person. Show up in court and present your case.
yes....it is an asset and can be used in a trade/business if improved ie parking lot, or farming.
It is the tax that funds Medicare (1.45% by the payee) and Social Security (6.2% by the payee) - the medicare portion is paid on all income, whereas the social security piece is only paid until you reach the contribution limit, currently 102k, which is set by congress. The amounts contributed are pa…id equally by you and your employer, so the actual tax is twice the amount quoted above. (MORE)
The judgment continues to sit on your credit report. In some cases, the person or company that was awarded the judgment on you can file paperwork to have your wages garnished and/or have any property that you have in the future held (titles) so you cannot sell them until the debt is repaid. That is …uncommon though. In most cases, the judgment just sits on your credit, continuing to make it worse. You should pay your debt. (MORE)
Allegedly it's used to benifit senior citizens, buy my opinion is that it is used for payroll and to help ease the cost of out taxes
Usually when a business closes it still has some assets, including accounts receivable (i.e.: money which it is owed), and those assets will be acquired by somebody. So the business that is closed isn't collecting money owed, but those debts can still be collected by someone.
Only insofar as the judgment can be levied against the estate of the deceased. Since it can be assumed that the willed property was part of the estate's assets then it can be liened if there are insufficient other funds in the estate's assets to satisfy the judgment.
When a case is closed and the only money collected is less than the amount of judgment what happens?
Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed. … Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed. Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed. Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed. (MORE)
The plaintiff will receive a damage award plus court costs. The plaintiff can request a judgment lien and they can direct the sheriff to seize any property you own to satisfy the lien: your car, boat, bank account, snowmobile, home, etc. If you own real property the lien can be recorded in the land …records and you cannot sell or mortgage the property until the lien is paid. The creditor can force the sale of your home or just wait and when you sell your home the amount due will be deducted from the proceeds along with interest and the buyers attorney will send a check to the creditor. Interest and costs grow at a rapid rate until the lien is paid off. The interest rate in Massachusetts is 12%. A judgment lien is good for 20 years in Massachusetts but must be renewed in the land records every six years. Other states may vary in their time periods. The plaintiff will receive a damage award plus court costs. The plaintiff can request a judgment lien and they can direct the sheriff to seize any property you own to satisfy the lien: your car, boat, bank account, snowmobile, home, etc. If you own real property the lien can be recorded in the land records and you cannot sell or mortgage the property until the lien is paid. The creditor can force the sale of your home or just wait and when you sell your home the amount due will be deducted from the proceeds along with interest and the buyers attorney will send a check to the creditor. Interest and costs grow at a rapid rate until the lien is paid off. The interest rate in Massachusetts is 12%. A judgment lien is good for 20 years in Massachusetts but must be renewed in the land records every six years. Other states may vary in their time periods. The plaintiff will receive a damage award plus court costs. The plaintiff can request a judgment lien and they can direct the sheriff to seize any property you own to satisfy the lien: your car, boat, bank account, snowmobile, home, etc. If you own real property the lien can be recorded in the land records and you cannot sell or mortgage the property until the lien is paid. The creditor can force the sale of your home or just wait and when you sell your home the amount due will be deducted from the proceeds along with interest and the buyers attorney will send a check to the creditor. Interest and costs grow at a rapid rate until the lien is paid off. The interest rate in Massachusetts is 12%. A judgment lien is good for 20 years in Massachusetts but must be renewed in the land records every six years. Other states may vary in their time periods. The plaintiff will receive a damage award plus court costs. The plaintiff can request a judgment lien and they can direct the sheriff to seize any property you own to satisfy the lien: your car, boat, bank account, snowmobile, home, etc. If you own real property the lien can be recorded in the land records and you cannot sell or mortgage the property until the lien is paid. The creditor can force the sale of your home or just wait and when you sell your home the amount due will be deducted from the proceeds along with interest and the buyers attorney will send a check to the creditor. Interest and costs grow at a rapid rate until the lien is paid off. The interest rate in Massachusetts is 12%. A judgment lien is good for 20 years in Massachusetts but must be renewed in the land records every six years. Other states may vary in their time periods. (MORE)
What legal action can be taken to collect from someone that has a judgment against them in small claims?
It varies by state, but post judgment remedies generally include garnishments, levies, and attachment to property.
Asset locators can be used to help people find property that they own, but did not know of, or that was lost. It may cost a fee to use a professional locator but it'd be worth it if one regained property.
There are a few benefits to using a collection agency for ones business or personal purposes. One benefit to using a collection agency would be being able to avoid having to directly deal with the person who owes money.
Almost certainly Detroit, Michigan. Certain properties in the citysell as low as in the hundreds of dollars.
Can the cosigner remove her name from a loan if the the account was taken to court and judgment was only made against the primary account holder and not the cosigner?
Generally, the co-signerdoes not have any authority or means to remove their name from a loan. That would involve altering the loan documents and the lender's records. The loan is owned by the lender.