Yes. The person owed would need to file and win a lawsuit to receive a judgment against the debtor. The judgment could then be enforced as a lien against nonexempt property owned by the debtor or in some cases even that which is jointly owned. The court does not accept the inability to repay a debt due to illness, job loss, etc. as a valid defense. Some judges will order a plaintiff and defendant to try to reach a equitable agreement before a judgment is entered against the defendant.
== == == == By example, if the debt is owed ONLY by one spouse, and the real property is owned jointly by a husband and wife (or married couple under some state laws), look to your state law to see if a creditor is precluded from foreclosing on the lien obtained via judgment on the real property and personal property, as the property may be held as tenets by the entireties and thus protected from execution.
Further, upon sale of the real property, if the proceeds are held by a husband and wife, and the judgment is only against one spouse, check again with your state law to see if the proceeds are exempt. Further, as to your home, even if you are single or married, in a state like Florida, look to your state law, to see if your primary home is protected from lien foreclosure by homestead laws. The above may be complicated by and inapplicable if the loan was secured by a recorded note and mortgage which is validly applicable to the home. Because the state law implicated in your question is not identified and there are not enough facts laid out, what follows are GENERAL thoughts only. Your best course of action is to seek legal advice from a licensed attorney in your state if you are in the USA.
The above is a general only and is not provided as legal advice that anyone should rely upon for any purpose.
Best of luck to you.
Of course not nobody was jailed because of an unpaid debit
There is no limit. If you want you can have 365 days off, unpaid, many people do.
Kansas doesnt collect tax on personal property, as of 7-01-06.
An unpaid medical bill is like any other debt. It can be reported to a credit agency like any other debt.
I have closed a business and gone through a divorce leaving me with an unpaid lease of $5,000 and unpaid lease on the business location. Can these be included a bankruptcy?
No. Except for fines, taxes or levies, you cannot be arrested for an unpaid bill (medical or otherwise) in Texas unless there is fraud involved.No. Except for fines, taxes or levies, unless there is fraud involved, you cannot be arrested for an unpaid bill (medical or otherwise) in Texas.
Correct. If you have unpaid bills then they cannot attack your personal finances; however if you are paying yourself a bunch of bonuses to avoid a bill through bankruptcy that is not a justifiable expense.
They don't just drop off, not letting you renew your license or registration because of unpaid tickets is their way of making sure it happens. If you are worried about points, it is a non moving violation so there are no points assessed.
Yes you can! Any unpaid tickets can cause you a lot of problems. The courts will see that your not paying them or making any attempt to take care of them, and then a warrant for your arrest will be issued.!
Interest on the unpaid judgment is 9% per year (simple interest, not compound interest). Unpaid judgments can affect the judgment debtor's credit rating.
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
No, it is a debt and therfore cannot be considered an asset. the only way to term it an asset is to be the lender.
there are two general remedies to an unpaid seller which include; Real remedies and Personal remedies.
losing their farms because of unpaid debts
She was unpaid on this Friday.
Yes, because you have reserved a portion of his time that he cannot schedule someone else for that time slot therefore he is loosing that time and money.
The time limit to collect an unpaid bill depends on the kind of the bill it is and what state you are in. In most cases the bill can be collected forever, but you cannot pursue legal action beyond 7 years.
To find out if you have an unpaid parking ticket, call your city's traffic department. With your car's license plate number they can tell you if you have any unpaid parking tickets. I know because i had one and that's how I found out. Pretty straightforward and simple.
The answer depends on your state's laws regarding executions of personal property for unpaid judgments. In general, a judgment creditor cannot execute against a vehicle if it is your primary source of transportation. Contact an attorney in your state for specific information on your case.
During events of emergencies such as car accidents, personal property damages or getting too sick, some credit card companies offer supplemental insurance for credit card. The case of being sick with unpaid credit cards will be handled accordingly with applicable laws.