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It can be expensive and time consuming. Although creditors are normally able to recover attorney fees from the debtor, putting out the money to hire an attorney and file the case may not be worth it for smaller debts.
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Can a creditor donate a default money judgment to charity?
Yes a creditor can donate whatever they want to charity. It is up to them what they would like to do with the money that is owed them.
What do you do if the creditor don't want to settle on your judgment?
Pay the judgment like you're supposed to.
Do you still owe the money if a lawyer buys a 7 year old repossession account and how will it affect your credit?
A judgment occurs when a creditor takes you to court, sues you, and wins his case against you. The creditor must do this before the statute of limitations has expired for the original debt. Typically, the court will try and contact you via mail, but they do not need proof that you were contacted, and you do not have to be present for your creditor to win. The creditor only has to provide proof that the debt is owed. You want to avoid this at all costs; for it is after a judgment is issued that a creditor can seize bank accounts, assets, or garnish wages. In addition, it is easy to renew a judgment once its statute of limitations has passed. In effect, if the creditor is diligent about his renewals, you could find yourself in the position where a judgment against you never expires. A judgment will drop off your credit report after seven years, but your creditor can hound you until the debt is paid.
How can you remove a car judgment from your credit report?
Car repos result in a balance due once the vehicle is sold at auction. If the creditor has won a court judgment you would not be able to remove it. Your best strategy is to act prior to the judgment by offering a settlement. See "working with a collection agency in So you want to fix your credit huh". www.wowifixedmycredit.com
What do you do if a judgment is incorrect?
You can try handling it informally directly with the creditor or formally by making application to the court for vacation of the wrong judgment and entry of a correct one. If dealing with the creditor there are a couple avenues of approach. Contact the creditor and explain why you believe the amount is wrong. If you convince the creditor you are right and are able to pay the correct amount immediately, then just pay it and have the creditor remove the judgment. The judgment will still be in the wrong amount but it will no longer be of record. You might also be able to arrange payment of less than even the correct amount of the judgment. Creditors do not want to collect small amounts of money each week on a garnishment when they can have the bulk of the debt in one lump sum and close the file. You might also convince the creditor itself to enter an amended judgment with the correct amount. If you are unable to work out it out informally and if you can prove that the amount is wrong, then you can make a motion for vacation of the wrong judgment and entry of a corrected one. If you are proceeding through court to do this and if you failed to defend against the lawsuit or ignored the summons, you might not be allowed to contest the amount of the judgment unless it is manifestly incorrect. Sometimes judgments are in higher amounts than the original debt because the court tacks on interest, counsel fees and court costs. If you chose not to answer the summons you might not be allowed to challenge those amounts. Remember, the time to challenge allegations is not after the judgment is entered. it is when you receive the complaint.
Do you need a lawyer to fight a judgment in court?
If you want to win.
How long can a attorney keep on trying to get money on a repo car in Indiana?
credotomfocenter Oral Written Promissory Open IN 6 10 10 6 Typically, the court will try and contact you via mail, but they do not need proof that you were contacted, and you do not have to be present in order for your creditor to win. The creditor only has to provide proof the debt is owed. You want to avoid this at all costs, for it is after a judgment is issued that a creditor can seize bank accounts, assets or garnish wages. In addition, it is easy to renew a judgment once its SOL has past. In effect, if the creditor is viligient about his renewals, you could find yourself in the position where a judgment against you never expires.
What does it mean to appeal the trial's court entry of judgment?
it means if you want not to do that
Can you negotiate a judgment?
Yes you can always try and see if a creditor will negotiate the debt. When they want the money vad enough they always settle.
I have a judgment and want to record a lien on a defendants home?
Check with the court that issued the judgment and ask how you can have the lien recorded in the land records.
If you hide your car from repo are you breaking the law Florida?
More than likely you will not be prosecuted for hiding the car. But is this really what you want to do? Do you want to own a vehicle that can be repossessed at any time day or night at any location? Do you want the creditor calling you and trying to recover their property that you are hiding? You signed a contract to pay this loan off. You have defaulted on the contract so do what is right and save some money in the process. Voluntarily return the vehicle to the creditor which will reduce your creditor's expenses in retaking the car, and you will reduce the amount you will owe the creditor. But remember, you will still be responsible for paying any deficiency on your loan, and your creditor may still enter the repossession on your credit report. Sooner or later they will get the vehicle, and the longer it takes them the more it will cost you. They will seek a judgment against you. The judgment is the difference between what you owe on your loan and what your creditor receives when reselling your vehicle. A creditor who has followed the proper procedures for repossession and sale is generally allowed to sue you for a deficiency judgment to collect the loan balance. You should have talked to the creditor before any of this happened and tried to work out a new payment plan. But you did not do that, and now you are making it worse by hiding the car. Think about it.
Can you sue an old landlord if he never filed a satisfaction of a judgment that was fully paid?
If the judgment was paid, and you want that reflected on the record, you should file a motion in the court that issued the judgment, to 'Amend Judgment to Zero'. You could also contact the plaintiff's attorney listed on the judgment and ask him/her to file the satisfaction.
