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State laws dictate what personal and real items belonging to a debtor are exempt from execution of a judgment writ.
The preferred method of judgment creditors for enforcing the writ is wage garnishment or bank account levy against the judgment debtor. Generally the same property that is exempted in bankruptcy proceedings will also be exempted from attachment by a judgment creditor.
It is in the best interest of the judgment debtor to obtain legal advice if faced with such a situation. The debtor's property is NOT automatically protected they need to file documents required by the court to keep exempted property from being possibly seized for sale or encumbered by liens.
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What is the difference between pre-judgment depositions and post-judgment depositions?
Pre-judgment depositions are taken prior to trial and reflect issues of whether or not the defendant is liable. Post judgment depositions are taken after a trial (or settlement) and typically go to issues of the amount of liability or methods of enforcing the judgment.
If you had a levy placed against your bank account in 2005 and nothing has happened since can action still be taken at a later time?
In all likelihood it would be necessary for the creditor to refile the judgment as a new bank account levy or even renew the judgment and then file. The action that can be taken by a judgment creditor is determined by the laws of the state where the judgment is entered.
What does taken leave of your senses mean?
"Taken leave of your senses" means to act irrationally or foolishly, typically as a result of being highly emotional or under extreme stress. It implies that someone is not thinking clearly or logically.
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.
Can a judgment be taken from your 401K account in Texas if that is all you have?
Generally speaking, 401k's are protected from judgements.
Can your residence be taken in a law suit?
If the judgment is against you and you do not pay it, the home can be sold to pay the debts.
Can a collection agency have you arrested and sue you for the debt if you are unemployed and on Social Security Disability?
You cannot be arrested for failing to pay a debt. The collection could sue you, but the judgment would be nearly impossible to enforce. Your disability benefits cannot be taken or garnished to enforce the judgment. The most they could do is put the judgment on your credit rating, put a lien on your property and perhaps have some of your nonexempt property taken and sold to pay toward the judgment.
What is a judgment in personal finance?
When a person is taken to civil court (for example, a credit card company suing a cardholder to get paid back), the court makes a judgment for or against the plaintiff (entity initiating the lawsuit, in this example, the credit card company). If the judgment is for the plaintiff, the result is effectively a judgment against the defendant (the person taken to court in the example). Part of the judgment is the amount that is to be paid to the entity winning the court case (judgment). Judgements against a borrower (and the amount set to be paid by that borrower) will make their way onto the credit report and will cause a drop in credit score.
Can a social security be taken out of bank account because of a judgment in Kentucky?
Generally, no. Social security funds are usually exempt from garnishment to satisfy judgment. There are so exceptions, though.
Can your social security or pension be taken for credit card debt in Iowa?
SS and Pensions are judgment proof
Is alimony considered a judgment?
You bet! You can get taken to court for not paying. I don't believe that you can chapter 7 it either.
Who is a garnishee?
If a person has a legal financial judgment against them they can have part of their wages taken by the court. Their wages are garnished and they are the garnishee.
