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What happens when a judgment is against us while in the process of claiming bankruptcy?
Wiki User
∙ 16y ago
If you are filing bankruptcy, you should have a bankruptcy lawyer onboard, and this is a question for him or her to deal with. You do not want to go through a bankruptcy on your own, especially as the bankruptcy rules have changed.
Wiki User
∙ 16y ago
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What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
What happens if you had a judgment against you in Ohio?
You pay it.
What happens if there is a default final judgment against you in Florida?
Jail
What happens if there is a judgment against you for credit card debt in Louisiana?
court government
What happens if i don't pay?
If you have had a judgment entered against you and have not paid, the prevailing party can request that the court garnish wages or property in order to pay the judgment entered against you. -J
What happens once a decision has been rendered against you for a credit card debt in court?
The creditor will file a writ of judgment. The time the defendent has to respond depends upon state law. After the judgment has been granted it can be enforced in a variety of ways. Garnishment of wages or bank accounts. Liens against real property, liquidation of assets such as stocks, bonds. Each state has exemptions the debtor is entitled to claim. The homestead exemption being the most important to a homeowner. The exemptions allowed in bankruptcy are the same for a lawsuit judgment. In addition there are Federal non-bankruptcy exemptions that can be used. You can find out which of your state's exemptions apply in your situation by searching (name of state) bankruptcy exemptions. Please feel free to e-mail me if I can be of help.
What happens if you don't pay your car loan?
The repossess the car, can get a judgment against you and your credit is badly damaged.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
What happens if a co signer files bankruptcy?
They both go bankruptcy
What happens to judgment when the plaintiff goes out of business?
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.
What happens when a judgment is executed?
In the majority of US states a judgment holder can execute a judgment in several ways. The preferred method is wage garnishment, other options for the judgment creditor would be; bank account levy or seizure and sale of unexempt personal property or a lien against real property owned by the judgment debtor.
If a credit card company obtains a judgment against you what happens?
The judgment creditor can execute the writ according to the laws of the state in which the judgment debtor resides. The preferred method is wage garnishment or bank account levy. Other options for the judgment creditor is the seizure and sale of unexempt real and personal property belonging to the debtor or liens against real property belonging to the debtor.
