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Forced sale of a homestead is legally possible in the majority of the states, but is seldom allowed by the court. However, the more equity the debtor holds, the less likely the state's homestead exemption will protect the property, thereby leaving the home in jeopardy. There are many factors that determine if a home can be subject to forced sale for creditor debt and said factors differ in each state. The debtor should use caution in communicating with the creditor and the best option is to have no communication without having received legal advice from an attorney knowledgeable in the state of residency's creditor debtor laws. One option to explore is if the state's SOL has expired if it has then a creditor lawsuit could be defended and defeated on those grounds.

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โˆ™ 2006-05-19 01:20:29
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Q: If you owe a small amount on your mortgage and just received notice of suit from an old credit card debt can the creditor force the sale of your home or only place a judgment lien on it?
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If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?

If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?


Can a creditor garnish more than the amount owed?

A creditor can not garnish for more than they are owed. A creditor must have a judgment with a specific amount before a garnishment can be started.


What is a deficiency judgment?

A deficiency judgment is where the owner of a mortgage or deed of trust is awarded a judgment against the borrower in the amount of: the amount of money owed in the mortgage or deed of trust minus the amount of money the property sold for at foreclosure sale If the above amount is a positive number, some states allow the lender to get a judgment for that amount.


What happens after a entry judgment is granted?

That pretty much depends upon how much the judgment is for. usually, if the judgment amount is small, then nothing happens except that you have a really negative mark on your credit report. If you attempt a purchase a home, the mortgage lender will force you to pay off the judgment before they will extend a mortgage loan to you. The judgment will appear on your credit report for a very long time and will negatively impact your credit score. If the judgment is for a relatively large amount of money, the creditor will most likely seek to garnish your earnings or attach monies in your bank accounts.


Can a credit card company have a lawyer put a lien on a home?

Lawyers do not have the authority to place liens on property. The creditor would need to sue you in court and win a judgment. It could then request a judgment lien that could be recorded in the land records. You could not sell or mortgage your property until the lien is paid off. The amount would continue to grow since the judgment creditor is entitled to interest and costs.


Can a lien for an unsecured loan be filed against a law suit?

A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.


What if the judgment was paid except the court costs?

If the amount of the court costs was added into the total amount of the judgment, then you have not paid off the judgment. You have only paid off the debt that was the basis for the lawsuit. Until the entire amount is paid, the judgment creditor will not give you the necessary release or warrant of satisfaction you need to eliminate the judgment lien.


Can there be a deficiency judgment on a mortgage foreclosure in West Virginia?

No, adeficiency judgment may not be obtained when a property in foreclosure is sold at a public sale for less than the loan amount that the underlying mortgage secures.


How long is a levy valid?

Until the amount owed is paid in full or the judgment creditor agrees to a settlement of the debt.


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 a home for default on a line of credit?

If the "line of credit' is in the form of a mortgage recorded in the land records then the lender can foreclose and take possession of the property. If it's not a mortgage then the creditor can seek a court judgment and if successful can then record a lien against your property. The property can't be mortgaged or sold until the lien is paid. If not paid and if the lien is for a substantial amount the creditor can sieze the property and sell it in most jurisdictions.


What is a judgment mean in a reposession?

It is the difference between the amount owed and the amount the collateral sold for, then minus all applicable fees. It is what you will be required to pay to the creditor.


Can a mortgage company sue for the entire amount of a second mortgage after foreclosure even though they received money to cover the first and some of the second after the sale of the property?

First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.First, it is unclear how you know the mortgage company received money toward the second mortgage from the foreclosure of the first mortgage. The lender can sue for the second mortgage. You should consult with an attorney who can seek documentation from the lender to support the amount they are suing you for.


What can you do if the judgment put against you is in the wrong amount?

You can try handling it informally directly with the creditor or formally by making application to the court for vacation of the wrong judgment and entry of a correct one. If dealing with the creditor there are a couple avenues of approach. Contact the creditor and explain why you believe the amount is wrong. If you convince the creditor you are right and are able to pay the correct amount immediately, then just pay it and have the creditor remove the judgment. The judgment will still be in the wrong amount but it will no longer be of record. You might also be able to arrange payment of less than even the correct amount of the judgment. Creditors do not want to collect small amounts of money each week on a garnishment when they can have the bulk of the debt in one lump sum and close the file. You might also convince the creditor itself to enter an amended judgment with the correct amount. If you are unable to work out it out informally and if you can prove that the amount is wrong, then you can make a motion for vacation of the wrong judgment and entry of a corrected one. If you are proceeding through court to do this and if you failed to defend against the lawsuit or ignored the summons, you might not be allowed to contest the amount of the judgment unless it is manifestly incorrect. Sometimes judgments are in higher amounts than the original debt because the court tacks on interest, counsel fees and court costs. If you chose not to answer the summons you might not be allowed to challenge those amounts. Remember, the time to challenge allegations is not after the judgment is entered. it is when you receive the complaint.


How can a judgment be forced as a property lien?

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 unemployment benefits can be garnished by outstanding judgment?

Yes, in the majority of U.S. states unemployment benefits are not exempt from creditor judgment action. The usual amount is 10% of the expendable income.


How do you remove a property judgment?

You have to pay the creditor the full amount of the debt for which the lien against the property was issued.


Can a bank double the amount of a judgment?

The bank, as judgment creditor, cannot change the principle judgment amount. They can, however, add attorney fees and interest as allowed by the law of your state. Contact a lawyer or legal services firm in your area for specific info on your state's laws.


Can a credit card company take your car if you dont show up for court?

Generally when a defendant does not appear in a creditor civil suit, the court will award the plantiff a default judgment against the debtor. The judgment creditor can then execute the writ in the manner allowed by the laws of the judgment debtor's state. If a vehicle is not protected under the exemption amount allowed a judgment creditor can place a lien on the vehicle and request a forced sale. However, this is rarely done, as it is time consuming, complicated and seldom results in the judgment creditor recovering all monies owed. Please be advised, a judgment creditor has several options for enforcing the judgment, the preferred method is wage garnishment or bank account levy, followed by the seizure and sale of other non exempt property owned solely by the judgment debtor.


Can a creditor get a judgment and freeze your bank account in South Carolina?

A creditor can get a judgment and freeze your bank account in South Carolina, but typically creditors only do this if you owe them a very large amount of money. The cost to do this usually means it's not worthwhile for creditors to pursue this type of action.


How much do you have to owe a creditor for them to put a judgment on you?

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.


What is the statute of limitations in Nevada on a judgment lien?

Any court ordered judgment does not age away, so there is no statute of limitations. If the judgment is to be paid whenever the property with the lien is sold, then that amount goes to the creditor first upon the sale closing.


What does writ amount mean?

The amount of a court issued judgment.The amount of a court issued judgment.The amount of a court issued judgment.The amount of a court issued judgment.


If you have been served notice of a judgment against you can the judgment be dismissed or is it too late?

The defendant debtor can negotiate with the plaintiff creditor up until the time the judge awards a judgment for the debt owed, and sometimes after a judgment has been handed down. Often the presiding judge will request the two parties meet with an indpendent mediator to attempt to settle the issue without it being necessary for the court to make a decision. A judgment is issued after the case has been heard. If the debtor has already received a notice of final judgment that would indicate that the plaintiff creditor has won the case and can execute the judgment in the time and in the way the laws of the state allows. It is in the best interest of the judgment debtor to try and reach a settlement with the judgment creditor. Some creditors will negotiate for a lesser amount even after a judgment award just to have the matter finished, but many will not if they believe they can collect a larger amount by letting the judgment stand. Judgments can be valid 5 to 20 years and many are renewable, they will continue to accrue interest until they are paid or settled and the debtor can end up owing considerably more then the original debt.


Can a creditor freeze bank accounts in New Jersey?

A judgment creditor can levy a bank account(s) held by the judgment debtor. An account can be frozen by the court when it appears that funds might be removed and/or transferred to avoid the judgment levy or to allow the judgment debtor to claim exempted funds in the account(S) or when the account is jointly held by a person who is not a judgment debtor. A joint account holder who is not a judgment debtor is required to present documents proving to the court the amount of funds that belong to them and which are not subject to a judgment levy. In some instances when an account is held jointly by a married couple and only one spouse is the named debtor the entire account will be exempted from a judgment creditor levy.