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What happens if you get sued by the credit card company but you can not pay the debt in Florida and lose the case by judgment?
Wiki User
∙ 18y ago
If the company wins a judgment, which is more than likely. Not having the money to pay a debt is in "legalese" not a valid defense. The creditor has several options, the usual one is to have assets that are easily liquidated and sold by the trustee. That would be stocks, CD's and in some cases (depending on the type and state statutes) pension funds. A lien can be placed against any real estate and in sometimes a forced sale of a house can be made. They can use garnishment procedings (which is the action they most often take) against wages, bank accounts, tax refunds, etc. The good news is, every state has exemptions that the debtor is entitled to. When all is said and done the vast majority of lawsuit judgments are uncollectable. The debtor's exemptions protect all the assets. There are other factors that apply, but they are too lengthy to go into here. The majority of BK attorneys offer free consultation. If you are sued, you definitely need legal counsel. I would strongly advise a person against representing themselves. Please feel free to email me if you think I can assist you in any manner. Good Luck.
Wiki User
∙ 18y ago
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What does it mean if a credit card company enters a judgment on you?
It means that you have that on your credit report for 8 years and that they have the right to collect the judgment from you.
What happens if there is a judgment against you for credit card debt in Louisiana?
court government
Can a creditor go after a corporation to satisfy a credit card judgment?
Only if the credit card is assigned to the business as a company card.
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 wages be garnished for non payment of credit card bills in Florida?
If your creditor has obtained a judgment against you, yes.
What does it mean if a credit card company enters a judgment on you?
It means that you have that on your credit report for 8 years and that they have the right to collect the judgment from you.
When a credit card company is awarded a judgment can you include this judgment on a Bankruptcy in CA?
The short answer to this question is YES.
What happens when a credit card debt goes to litigation?
A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.
Can a civil judgment from 14 years ago be refiled and reentered on a credit report in Florida?
Yes, if the judgment was renewed before the expiration date.
Can a collection agency put a judgment on your credit?
== == Yes they can. Happens all the time.
What happens if there is a judgment against you for credit card debt in Louisiana?
court government
Can a a credit company file the same account twice on your credit report?
It happens and can be disputed. Call you credit card company or credit agencies.
Can a creditor go after a corporation to satisfy a credit card judgment?
Only if the credit card is assigned to the business as a company card.
How do you remove a false charge off date from your credit report if the date was reset from the original?
You can have a credit dispute, if the agency reporting the bad judgment does not get back with the company disputing the judgment within 30 days, it HAS to be removed from your credit report. Example: I filed bankruptcy(?) on a auto repo. and the company did not take it off my credit report, I had my credit card company do a credit dispute, they did not respond within 30 days, and it was removed from my credit report.
Can personal property be levied when a judgment is placed against you for credit card deliquency?
Answer: If your credit card company obtains a judgment against you they may take any property of value that they can find.
If a car is titled to husband and wife in Florida can a credit card company take it for a judgment if the card is in only one name?
No. Florida has the reputation of being a "debtor friendly state". In this case debts incurred before marriage cannot be applied to both spouses.
Who is the repossession company for Ford credit?
Who handles ford credit repos in Ocala,Florida 34479?
