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I have a debt in which a judgment was issued against me. Can the creditor holding that judgment lien my car once it is paid off?
Wiki User
∙ 12y ago
Unfortunately, the answer is: more than likely.
That is, if the vehicle you own is free and clear of prior encumbrances, for example - it is entirely paid off and you hold the title to the vehicle free and clear.
If you are in a situation where a lender can place a lien on your bank accounts, garnish your wages and place a lien on your tax refunds (varies from state to state), it is quite possible that the lender can "attach" your personal (auto, bank accounts, etc.) and real assets (as in real estate). Essentially meaning that if they (lenders) attach your property and you try to sell them off, they are likely to gain any profits (consideration = anything of value) from the sale.
Wiki User
∙ 14y ago
Wiki User
∙ 12y agoYes. Actually the judgment creditor does not need to wait for the vehicle to be clear of other encumberances. Judgment liens can be filed within the time limit assessed by the laws of the state which granted them. Therefore real property belonging to a debtor can have more than one valid lien at a time attached to such.
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What is a Certificate of holding?
A Certificate of Holding is a document issued by a storage facility to a creditor. It states that the goods owned by the debtor are held by the creditor.
What if you paid the lien but the lien holder won't sign the lien satisfaction?
You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.You should visit the court that issued the judgment lien and ask about obtaining a court order against the creditor for refusing to release the lien. You should take proof that you paid the lien with you as evidence.
When a lien is filed on a property in Oregon can you contest it?
The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.The time to contest a creditors claim of an unpaid debt is when and the creditor has sued you for the debt and the matter is in court for the hearing. If you miss your opportunity to defend against their claim, the judgment will usually be in the creditor's favor and the court will issue a judgment lien. Once the lien is issued and recorded in the land records you cannot sell or mortgage your property until the lien is paid.
Do you still owe the money if a lawyer buys a 7 year old repossession account and how will it affect your credit?
A judgment occurs when a creditor takes you to court, sues you, and wins his case against you. The creditor must do this before the statute of limitations has expired for the original debt. Typically, the court will try and contact you via mail, but they do not need proof that you were contacted, and you do not have to be present for your creditor to win. The creditor only has to provide proof that the debt is owed. You want to avoid this at all costs; for it is after a judgment is issued that a creditor can seize bank accounts, assets, or garnish wages. In addition, it is easy to renew a judgment once its statute of limitations has passed. In effect, if the creditor is diligent about his renewals, you could find yourself in the position where a judgment against you never expires. A judgment will drop off your credit report after seven years, but your creditor can hound you until the debt is paid.
What is the process used to garnish a person's wages?
The creditor or person who is owed money must bring a lawsuit against the debtor in the proper court. If the plaintiff wins the case they will be granted a judgment, the judgment can then be enforced as a wage garnishment against the debtor, in accordance with the laws of the state where it is issued. Please be adivised there are four states that do not allow wage garnishment for the collection of creditor or personal debt owed, they are Texas, Pennsylvania, South Carolina and North Carolina.
Where and How do you get a release of judgment lien form?
Generally, the release or satisfaction of lien must be issued by the court that issued the judgment. Take a copy of the lien with you and visit that court. They will explain the process for obtaining a release.Generally, if you paid the lien, the creditor is responsible for returning the lien to the court as satisfied.Generally, the release or satisfaction of lien must be issued by the court that issued the judgment. Take a copy of the lien with you and visit that court. They will explain the process for obtaining a release.Generally, if you paid the lien, the creditor is responsible for returning the lien to the court as satisfied.Generally, the release or satisfaction of lien must be issued by the court that issued the judgment. Take a copy of the lien with you and visit that court. They will explain the process for obtaining a release.Generally, if you paid the lien, the creditor is responsible for returning the lien to the court as satisfied.Generally, the release or satisfaction of lien must be issued by the court that issued the judgment. Take a copy of the lien with you and visit that court. They will explain the process for obtaining a release.Generally, if you paid the lien, the creditor is responsible for returning the lien to the court as satisfied.
Can a lawyer charge interest on a judgment?
The lawyer doesn't charge interest on a judgment.Once the creditor wins a lawsuit and the court issues a judgment lien, the creditor is legally entitled to interest from the time the judgment is issued until it is paid. The debt can grow quickly. In Massachusetts the interest rate is 12%.
How do you view a civil judgment against yourself?
Contact the clerk of the court or the court administrator where the judgment was issued and request a copy of the writ of judgment.
If a judgment has been issued for a repossession deficiency will it affect a 401K when cashed in and can they place a lien on your home which is homesteaded or take the money if it is sold?
A judgment creditor cannot levy on your 401(k), but they can levy on your bank account and money from a 401(k) distribution would be vulnerable if it was in your bank account at the time the levy occurred. Filing a homestead does not prohibit a judgment creditor from filing a lien against your home. The judgment creditor can wait for you to sell or refinance your home. If there is enough equity in your home to pay off the mortgage and your homestead, there might be enough equity to be able to force a sale of your home.
What term describes any kind of money a creditor must accept by law for payment of a monetary debt?
A judgment is a court order issued by the court stating that the creditor has won the lawsuit and is entitled to a certain amount of money.
How long can a attorney keep on trying to get money on a repo car in Indiana?
credotomfocenter Oral Written Promissory Open IN 6 10 10 6 Typically, the court will try and contact you via mail, but they do not need proof that you were contacted, and you do not have to be present in order for your creditor to win. The creditor only has to provide proof the debt is owed. You want to avoid this at all costs, for it is after a judgment is issued that a creditor can seize bank accounts, assets or garnish wages. In addition, it is easy to renew a judgment once its SOL has past. In effect, if the creditor is viligient about his renewals, you could find yourself in the position where a judgment against you never expires.
Will filing chapter 7 bankruptcy get rid of a credit card judgment?
Yes. It is the most common reason for filing for bankruptcy. If the judgment creditor had an execution issued and attached any equity in your home, you may have a problem.
