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"Judgment proof" is an informal and somewhat disparaging term for "doesn't have enough assets that we can seize to satisfy the judgment." When someone has a judgment against you for money and you don't pay, she can ask a court to "execute" on the judgment. The county sheriff comes and either actually or symbolically takes your property ("levies upon it" they call it) and, if it's not cash (like bank accounts) then sells it at a public auction. The money from the sale goes to pay the person you owe. If there's anything left over, you get it. There are special rules for levying upon and taking things like your home if you own it but the basic theory is the same. When folks say someone is judgment proof they mean the person doesn't own enough stuff that, when sold, there would be enough money to pay the judgment. Effectively, people who say it mean the person is too poor to be worth suing because you'll wind up with a judgment but still won't be able to collect. Keep in mind that in many places (I'm not sure about Indiana), the judgment holder can also garnish your pay, taking a piece of every paycheck.

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Q: How does one become judgment proof in Indiana?
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Is judgment proof legal in Kentucky?

"Judgment-proof" means that even if a plaintiff obtains its civil judgment against its defendant, the defendant has no assets from on which the court can levy in proceedings in aid of execution to satisfy the judgment. It also generally implies that as a result the defendant is not worth being sued, because the possibility of ultimately recovering a money judgment is nil.Added: There is no such legal principle as judgment proof. It is not a defense to a lawsuit. One can obtain a judgment against a defendant, regardless of the ability to collect the judgment. Plaintiffs often choose to proceed against defendants who appear to be judgment proof because they believe that the defendant will eventually have assets or income against which to collect.You are correct. The status of being judgment-proof is as a matter of fact and not a matter of law. Which is why I used the word "implied" and not the word "holds". Therefore, it is legal to the extent that as a matter of fact the judgment cannot be satisfied.


What is the difference in retrospective and prospective judgment?

The retrospective or retroactive judgment is that one which also effects on the facts done before the time on which the judgment is issued while the prospective judgment only take effects after the time on which it's issued.


What are the inheritance tax laws in the state of Indiana?

Indiana is one of the 11 states that does have an inheritance tax. It would be a good idea to consult a probate attorney in Indiana. They will know how to reduce the tax liabilities of the estate.


Does Illinois allow for judgments to be renewed after 7 years?

The seven year rule usually applies to a credit report entry not the length of a judgment. In Illinois judgments are usually valid for 20 years with the addition of a new law they can now be revived (renewed) for another 7 after the expiration of the original one. However, the judgment creditor/holder must petition for the renewal before the 20 year time limit expires. This is one of several reasons why a judgment lien is so damaging to the judgment debtor. Another one being that judgment amounts accrue interest until they are paid.


Can a joint property be seized for a judgment against only one spouse in the state of Texas Even though spouce signged quit claim deed before judgment?

yes of course

Related questions

Is judgment proof legal in Kentucky?

"Judgment-proof" means that even if a plaintiff obtains its civil judgment against its defendant, the defendant has no assets from on which the court can levy in proceedings in aid of execution to satisfy the judgment. It also generally implies that as a result the defendant is not worth being sued, because the possibility of ultimately recovering a money judgment is nil.Added: There is no such legal principle as judgment proof. It is not a defense to a lawsuit. One can obtain a judgment against a defendant, regardless of the ability to collect the judgment. Plaintiffs often choose to proceed against defendants who appear to be judgment proof because they believe that the defendant will eventually have assets or income against which to collect.You are correct. The status of being judgment-proof is as a matter of fact and not a matter of law. Which is why I used the word "implied" and not the word "holds". Therefore, it is legal to the extent that as a matter of fact the judgment cannot be satisfied.


How do you become an Indiana resident?

First you must move to Indiana. Currently, residency will take one year. Thus, change your license immediately after moving and/or make sure you have other proof should you be required to submit it. For example auto license, utility bill, etc. Viper1


Can a trust's property be taken if one of the trustees has a judgment against him?

A judgment against the trustee in his individual capacity will not affect the trust property. A judgment against the trustee as the trustee will become a lien on the trust property.


Is a low income family judgment proof that receives food stamps and medical assistance for their three children?

First of all, I should make one thing clear: being "judgment-proof" is not a legal defense to liability.You can't go into court and say "I'm judgment-proof, therefore the lawsuit should be dismissed." Whether or not you can actually satisfy a judgment has no bearing on your liability, and the court's ability to impose the judgment. And if you are found liable, that judgment can follow you around for the rest of your life, or until you pay it, creating problems at every turn.The term "judgment-proof" simply refers to a practical consideration faced by all plaintiffs: given the financial situation of the defendant, how easy or difficult will it be to actually collect the judgment? A plaintiff might decide that, even if they win, the defendant has so few assets that collecting the judgment could take more time or effort than it's worth.If you're employed, and lose this lawsuit, the plaintiff may be able to garnish a percentage of your wages until the judgment is satisfied. There are many other procedures through which a judgment can be enforced, as well.


Is there proof Shinigami exist?

There is no scientific or empirical evidence to support the existence of Shinigami, as they are creatures from Japanese folklore and mythology. Belief in Shinigami is based on cultural and religious perspectives rather than verifiable proof.


How long must some one reside in Indiana prior to becoming governor?

To become Governor of Indiana, a candidate must have lived within Indiana for the period of five consecutive years before the election.


Can a civil judgment result in the repossession of a car that is co owned?

If the civil judgment is due to not making payments for an auto loan on the car that is in question, then yes, that car may be repossessed as a result of the judgment. If there is a judgment against both owners of the car (i.e., if the co-owners are both listed as defendants), then the car is considered an asset and may be repossessed unless there is proof that the car is required for one or all of the co-owners to earn money in order to pay the judgment. If there is a judgment against only one of the owners of the car (i.e., if one of the co-owners is listed as a defendant, but ANY of the others are not), then no, the vehicle may not be repossessed.


How can one become a vampire?

You can't... at least science has never found proof that it's possible. It's fiction.


How many garnishment are allowed in Indiana?

Not sure about Indiana, but "generally" they can only garnish a max of 25% from pay. At times this results in termination from inscrutable employers that don't want the hassle. The good news is if more than one party has a judgment, only the first one "generally" gets that 25% if they are successful. the rest (of your creditors) are out of luck.


Which is correct Counter proposed judgment or proposed counter-judgment?

Proposed counter-judgment, how do you file one?


When was One Indiana Square created?

One Indiana Square was created in 1970.


When does a judgment lien take effect the day of the judgment or the filing of the transcript in Colorado?

A judgment lien takes affect the day of the judement, HOWEVER, it must be recorded right away. If a subsequent judgment lien is recorded first then the first judgment lien would lose it's place in Massachusetts and become second in priority. Massachusetts is a "race notice" state. The first one to record the document in the land records wins!