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A judgment is a court order that is awarded when a lawsuit is won by a plaintiff. The judgment can be executed in several ways pursuant to the laws of the state where it was awarded. Some of them are, garnishment of wages, levy of bank account(s), liens against real property, seizure and sale of nonexempt assets belonging to the defendant. Macky...(macky83@juno.com)
Yes. By the Federal Fair Debt Collections Practices Act, all legal loans may be collected against for seven years from the date of last payment. In the event a judgment is obtained, collection may continue for up to ten years after the date of judgment, and may be extended by the courts for an additional ten years. By some state legislation, some loans may be legally collected against for up to ten years with the addition of another ten years in the event of judgment.
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.
No. The creditor can foreclose on the property (and virtually always do) since that is the way they get your name off of the deed and someone else's name on it. And, during this foreclosure, they will list you as a defendant since you are the property owner until the sheriff sale takes place. But, when the judgment is rendered in the foreclosure, it should be an "in rem" judgment, which means against the property only, and not an "in personam" judgment, which means against you personally. If they do get an in personam judgment against you, it is usually a good idea to notify the court and let them know about the bankruptcy so they remove the in personam judgment.
The defendant is not required to make an appearance in a creditor suit, but if he or she does not appear the plaintiff (creditor) will win by default and a judgment will be entered against the debtor. FYI, unless the defendant has undisputable evidence that the suit is faulty (debt not valid, wrong person being sued, etc.) it will make no difference in the outcome whether the defendant debtor appears or not, the plaintiff will be awarded a judgment.
A lawsuit must be filed against the debtor/defendant in the court of jurisdiction. If the plaintiff wins the suit a judgment will then be entered against the defendant. Judgments can be executed against the property or wages of the debtor in accordance with the laws of the state in which the judgment is awarded.
Yes, judgment proof is legal in Kentucky. Judgment proof refers to a situation where a defendant does not have sufficient income or assets to fulfill a court-ordered judgment. In such cases, the court is unable to enforce collection of the judgment against the defendant.
It means you lost a civil suit in court and there is possibly a monetary judgment against you - can result in a Lien, etc.
File a Motion To Vacate in the court where the judgment was entered against the defendant. Contact the office of the clerk of the court of jurisdiction for information on the procedures and the forms required for filing.
No
File a Motion To Vacate in the court where the judgment was entered against the defendant. Contact the office of the clerk of the court of jurisdiction for information on the procedures and the forms required for filing.
The term describes the action taken by the court when the named defendant fails to respond to the lawsuit summons in writing and/or appearance upon the court date. A defendant is not required to make an appearance in court in a creditor suit, but failure to do so means the plaintiff will be automatically be awarded a writ of judgment. Such a judgment can then be executed against the defendant's real and personal property in accordance with the laws of the defendant's state.
The plaintiff will win a by default and a judgment will be entered against the defendant. There are not laws that require a person to file an answer or to be present at the civil suit hearing.
The winning plaintiff can request a judgment be entered on the defendant's credit report by filing a copy of the judgment with the credit bureaus. This can negatively impact the defendant's credit score and make it difficult for them to obtain credit or loans in the future. Judgments typically stay on a credit report for a certain number of years, depending on the jurisdiction.
A hearing before the court to prove a plaintiff's case against a defendant, where the defendant is in default and has not made an appearance in the case. Generally used to get a default judgment against a non-answering party.
It cannot be re-placed on property that is outside the jusrisdiction of the presiding court.
A judgment is a court order that is awarded when a lawsuit is won by a plaintiff. The judgment can be executed in several ways pursuant to the laws of the state where it was awarded. Some of them are, garnishment of wages, levy of bank account(s), liens against real property, seizure and sale of nonexempt assets belonging to the defendant. Macky...(macky83@juno.com)