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What is an outstanding judgment?

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2016-02-19 11:37:37
2016-02-19 11:37:37

A judgment is a court order giving a creditor or someone who is owed money (such as money that was borrowed from a friend) the legal right to collect the debt in accordance with the laws of the state. The term "outstanding" indicates the judgment has not been paid or settled, but is still valid. A judgment that has been awarded to the judgment plaintiff but has not been paid by the judgment debtor.
A judgment that has been awarded to the judgment plaintiff but has not been paid by the judgment debtor.

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Yes, the lender can file suit for the outstanding amount and if they receive a judgment they can execute the judgment in the manner in which the laws of the judgment debtor's state allow.

An outstanding judgment is a court order that gives a creditor the legal right to collect from a debtor. As court judgments are a matter of public record, a creditor can report the judgment on the debtor's credit reports. An example of a judgment placed on a credit report would be a judgment for eviction. This judgment will remain on the credit report for seven years from the filing date.

Yes, in the majority of U.S. states unemployment benefits are not exempt from creditor judgment action. The usual amount is 10% of the expendable income.

In the US, a student loan collection company that is garnishing your wages will already have a court judgment against you. You can get out of the judgment and garnishment by consolidating your loans. Click the link at the bottom of this text box to get help with the consolidation of your loans.

Yes, if you have a judgment against you the money you owe can come from any source that you may have.

Yes, all reputable lenders will require the applicant to clear any outstanding judgments before considering approval of a loan.

Yes, provided there is an outstanding judgment against you. Without the judgment, neither the agency nor the original creditor has any recourse for garnishment, and will not be able to obtain an order for garnishment.

That answer will vary from state to state. In California, you can collect 10% per year on the oustanding balance. You take 10% of the outstanding judgment and divided that number by 365 to obtain the daily rate of interest. Multiply the number of days since the entry of judgment. Payments are applied to interest first and then to the principle. The interest is not capitalized.

Placing JudgmentsFirst you need to win the judgment in court proceedings. Then with that paperwork, you can contact the credit reporting agency. With that judgment, you can also do a search of the person's assets (through the internet) and put a lien on the assets.Individuals do not report judgment awards to credit reporting bureaus that is done by independent agencies contracted by the credit bureaus.A judgment cannot be used to access a person's financial and personal information, that is done via discovery documents issued before the judgment is entered against the debtor/defendant.

outstanding, usually in the sense of outstanding mistake or outstanding lie

The judgment part indicates that the creditor has won the lawsuit and been awarded a judgment. The collection may indicate that the debt is still outstanding or has been paid. Public means, well simply that. Anyone who is interested can find out the information. For instance if there are delinquent taxes, resulting in a lien against real estate.

No. Although the spouse can be affected by the outstanding debt when applying for joint credit or if a joint bank account is levied by a judgment creditor.

The lender will have the right to pursue a civil judgment in court for the outstanding debt. If not paid, wages can be garnished or a warrant for arrest can be issued.

In an abstract judgment the grantor is the judgment creditor. The grantee of the abstract judgment is the judgment debtor.

Outstanding assets are assets that are owed to an individual or business. Outstanding liabilities are debts that ill be incurred in the future.

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AnswerIf it was true and accurate, no. maybeThat is often state dependant, but you should be able to have it removed once the debt is paid. If it is not paid yet, it is considered outstanding debt, and will stay on your credit report. No a valid judgment will remain 7 years or indefinitely if the judgment creditor chooses to renew it.If a judgment is paid or settled the entry will reflect such, but the judgment will still remain on the CR for a minimum of 7 years.YesOnly the court or the credit bureaus can remove judgments on your credit report. You can dispute anything on your credit report to the credit bureaus that you believe to be inaccurate or erroneous.

There are no legal differences between the borrower voluntarily relinquishing a vehicle or the lender having to initiate repossession action (with perhaps the exception of additional monetary charges). If an outstanding balance remains on the original loan amount after the vehicle is sold at public auction the lender can file suit to gain a judgment against the borrower for the amount still owed. If a judgment is awarded the judgment creditor may execute it according to the laws of the state. This being the case it is possible for a judgment holder to place a lien against real property owned by the judgment debtor.

The definition of outstanding is this:marked by superiority or distinction; excellent; distinguished: an outstanding student.outstanding: amazing, fantastic, marvelous, magnificant (basically long words that are compliments)

If the lender sues the borrower and wins a judgment the lender can then execute the judgment as a wage garnishment on any outstanding amount that is owed and in some cases legal fees and other expenses incurred in the recovery of the debt.

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