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You question already describes the worst case scenario. The unsecured creditor hires an attorney, spends money to get a judgment and then can't collect the judgment. It is possible that the debtor may become solvent again. Then again, that person could also file for bankruptcy and the discharge could bar you from ever collecting that debt.

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โˆ™ 2005-11-18 04:42:24
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Q: What is the worst case scenario if an unsecured creditor wins a judgment against an insolvent individual who has no means of paying it?
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If all unsecured non-priority claims are discharged can a creditor that was included in the discharge have a judgment lien on a property?

Following your supposition, if he had a lien then he wasn't an unsecured creditor, and if only unsecured were discharged, he wasn't.


Can a lien for an unsecured loan be filed against a law suit?

A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.


Does an insolvent person always have to file bankruptcy?

No, if the debtor is judgment proof (i.e. there are no assets/income for the creditor to take) then there would be no need to file a BK.


Can credit card debt put a lien on your taxes?

Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.Yes, if the creditor obtains a judgment lien in court.


Can a lien be put on home in Maryland for an unsecured debt?

Yes. That is what judgment liens are all about. A creditor can sue you in court and if successful obtain a lien against your real estate.


What if the creditor that enters the judgment sells the account to a new company and the old creditor didn't assign the judgment to the new creditor How do you pay off your judgment?

Make your payment to the clerk of courts office in the county your judgment was entered in.


Can a creditor with a judgment levy a Montana bank account?

Yes, in most cases such such action is possible by a judgment creditor.


In Missouri can a credit card company freeze your bank account for unsecured debt that is not paid?

Yes, if the creditor sues the debtor and wins a judgment, the judgment can be enforced as a bank account levy. Unsecured debt simply indicates that there is no specific property attached to the debt, it does not mean that a creditor cannot use a judgment to seize any non exempted property belonging to the judgment debtor. In some states including Missouri, joint marital bank accounts (unless otherwise stated), are considered to be held as Tenancy By The Entirety. This means that a joint marital TBE account cannot be levied when only one spouse is the named as the judgment debtor.


Does the IRS take priority over unsecured credit when it comes to wage garnishments in New York state?

Yes, the IRS can circumvent most legal procedures when collecting taxes due. A unsecured creditor must generally file suit, win a judgment, enforce the judgment as wage garnishment or other action and do so in accordance with state law.


Can a credit card company take a judgment against you if it is unsecured and it has been over 4 years?

It is quite possible,most credit card accounts are unsecured. A creditor can file a lawsuit and if it is won, receive a writ of judgment that can be executed against all nonexempt property that belongs to the debtor. Each state has SOL's that pertain to open accounts such as credit cards. However, the expiration of the SOL does not automatically stop a creditor from seeking collection of a debt. (Macky..macky83@juno.com)


Who is the grantor in an abstract of judgment?

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


How do you pay off a court judgment from a credit card company - pay the court or the lawyer for the creditor or the creditor directly?

You pay the organization/creditor to whom the judgment was granted.


What does it mean to be in danger of judgment?

Means a judge's order you must pay a creditor. A creditor with a judgment can have your wages garnished to repay the debt.


What does a judgment mean on an unsecured credit card?

It means the creditor has won a lawsuit, been awarded a writ of judgment and can execute the judgment against non-exempt assets and property as defined by state law that belongs to the judgment debtor. The preferred method of executing a judgment is by wage garnishment, followed by bank account levy, the seizure and liquidation of non-exempt property and liens against real property. The state exemptions allowed for personal and real property when properly used can give the defendant/debtor considerable protection against the enforcement of a creditor judgment.


Can they garnish your wages in Pennsylvania for an unpaid balance on an unsecured credit card?

No, PA. does not allow wage garnishment when it pertains to creditor action. Even though a credit card is unsecured debt, that does not mean the creditor does not have legal remedies for collection. They can file a lawsuit, if they win they will enforce a judgment in several ways, bank account levy, liquidation of nonexempt property, or liens against real property.


If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?

If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?


In Texas can a creditor judgment for an unpaid phone bill be enforced as a wage or tax refund garnishment or a bank account levy?

A judgment creditor can levy a bank account even if it is joint. A judgment creditor can only garnish income if there is no other way to recover monies owed. A judgment creditor can place a lien against real property but cannot perfect the lien as a forced sale of a primary residence. A judgment creditor cannot seize a tax refund.


Does the statute of limitations on unsecured debt still apply if a creditor filed a summons for a lawsuit but never pursued it?

There is not such an action as "filing a summons", perhaps what is meant is filed a judgment. Creditors have for the most part lengthy time limits in which to execute a judgment once it has been entered against the debtor. A creditor can simply "hold" the judgment until such time they decide that enforcing it is a viable option. For example a debtor who was previously unemployed begins working, the it might be possible for the judgment to be executed as a wage garnishment.


Can a credit card company put a lien against you?

A lien cannot be placed against an individual in reality. However, a judgment creditor such as a credit card company can place a lien against real property owned by a judgment debtor. The judgment creditor can take other steps as well to collect the debt, an example would be income garnishment.


Can A judgment Creditor take your business?

Yes.


Can a loan company file a judgment in Texas?

Any creditor who is owed money and for whom the contract has not been honored by the borrower can file for a judgment in Texas and every other state of the US. Whether or not the creditor will receive that judgment is a matter up to the courts, however the judgment typically goes in favor of the creditor.


Can a lien take your child support?

No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.


Can you lose your car if a judgment is entered against you?

Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.Yes. Your creditor can request a judgment lien and take any property you own to satisfy the lien.


Can a creditor take your federal or state income tax refund to pay a judgment?

If the judgment is for state or federal taxes then any refund is subject to seizure by the agency holding the judgment. If it is a creditor judgment, a tax refund would only be subject to attachment if it were placed in a bank account that was being levied by the judgment creditor. I would consult with a tax attorney.


What do you do if the creditor don't want to settle on your judgment?

Pay the judgment like you're supposed to.