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.
Debit cashCredit other income
You would reverse the journal entry then record the correct entry.
A "default judgment" is granted when the debt is not contested. You would put information pertaining to your proof that the debt is not valid or actually owed. Just because a person feels wronged, or got inferior goods or service, is not proof enough.
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
Reversing entry can be make to reverse any entry whether it is actual transaction entry or any adjusting entry.
You can appeal or accept the judgement.
I have found that when this is granted, the other party may file objection to, request to readdress, or appeal the judgement.
You don't. The Court would file the judgment if it is granted.
I had several credit card debts two have been granted judgements. The judgements equal to the mortgage on the house. Now they threaten further legal actions
A Prayer for Judgment Continued (PJC) is a finding of guilt without an entry of judgment for a criminal or traffic offense. A Prayer for Judgment Continued is a judge-granted remedy that is unique to North Carolina and may not be recognized by other states. However, a judge is not authorized to grant a PJC for a Driving While Impaired (DWI).
True. Summary judgment will be granted only if there are no genuine question of fact and the sole question is a question of Law.
In Georgia how long does it take for a request of judgement to be granted?"
In criminal law a final judgment of guilty in the criminal case and the punishment that is granted.
Entry of Default Judgment. When a party against whom a judgment for affirmative relief is sought has failed to plead or otherwise defend as provided by rules, upon proof of damages or entitlement to other relief, a judgment may be entered against the defaulting party. The entry of an interlocutory order of default is not a condition precedent to the entry of a default judgment.
it means if you want not to do that
If the judgment was granted against someone other than the deceased the judgment is still valid and will remain until it is satisfied or paid in full.
This question is too vague and needs more information.