0
What happens to judgment when the plaintiff goes out of business?
Wiki User
∙ 12y ago
The judgment is still collectable, it does not simply go away. The creditor may assign the debt to a third party, who has full authority to collect it, however the creditor may notify you, the judgment debtor, ehere and when to send payments. its still a judgment against you, and will remain so until the creditor instructs the Clerk to cancel it, by stating you have paid, or rather "satisfied" the judgment against you.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is Plaintiff-Appellant?
When plaintiff goes in appeal then he is called plainticf appellant.
Judgment made against husbands business froze your joint bank account?
Yes, that's how it goes.
What happens if you see Santa?
He gives you a wink of a eye and goes on with his business
What happens if a business goes into chapter 11 but an individual has personally guaranteed some of the business debts?
Liability
What happens to the guns when a gunsmith retailer goes out of business?
they are transfered to another owner
What happens to auto title if leinholder goes out of business?
It'll lose money.
What happens if judgment entered for car repossession in Texas?
It goes through a legal process, and if you fail to get your vehicle back, it will be auctioned of to help fund the government.
What happens to your pension when a company goes out of business?
Whar happend to my pension after working 33 years at Cabrini Medical Ceter and the hospital went out of business
If judgment goes to bankruptcy will it be removed?
If a judgment goes in the bankruptcy, it can be removed. The person who the judgment was for, has the right to request that it still be paid. In most Chapter 7 situations, the judge will decide in favor of the debtor.
What happens if one company has a judgment an sells that part of the comany to another?
That's pretty simple to answer: Judgments don't go away because a company is sold or even goes out of business. The successor to the company or its assets has the right to pursue collection of the judgment. Occassionally you can get rid of the collection efforts and the judgment if you protest it on the basis that you were not given advance warning that the company was seeking the judgment. This is a legal matter that should be discussed with an attorney. Your rights may vary from place to place. However, if the judgment is discharged because you were not so warned, the new company may decide that it is not worth the time, cost and effort to obtain a new judgment.
Why does the plaintiff go first?
The Plaintiff goes first because they are the people suing the defendant, which gives them the ability tp go first.
If you have defaulted on credit cards can they seize the car you own?
Theoretically a creditor/plaintiff can sue, win a judgment and execute the judgment against non-exempt property owned by the debtor/defendant. If the state's vehicle exemption does not give adequate protection against a creditor judgment it could be seized and sold, but that is highly unlikely. Judgment holders prefer to use wage garnishment or bank account levy to recover monies owed, instead of the hassle of taking possession of real property and all the responsibility that goes with it.
