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Sometimes. Many creditors will allow you to charge off an account, which is to pay a sum of money less than the debt. It's not good for your credit score, but it will satisfy and close out the debt.
AnswerMore than likely if a creditor has a judgment out for you, you have lost your chance to negotiate. You should have negotiated before it was taken to court you may have had a better opportunity to settle the debt. Now you have the courts involved and they will ensure the fact that the creditor gets theirs money.How old is the debt?
A little clarification, once the judgment has been entered the court will not assist the judgment creditor in collecting monies owed.
It is a misconception that not paying a judgment is an act of contempt of a court order, it is not and the consumer cannot be held accountable to the court for the non payment of such.
Some creditors will negotiate on a judgment if they believe that there is no way to excecute it in a timely and uncomplicated way.
If however, the creditor can execute the judgment as a wage garnishment or bank account levy it is highly unlikely they would be willing to negotiate a settlement.
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Settlement agreement is already received in writing but creditors wanted wired check for 8000 dollars settlement payment and not check or money order should one agree to this or not?
No-
If your checking account is frozen because of a judgment do you have to pay the entire amount or can you settle?
That's at the discretion of the party who won the lawsuit and had the judgment enforced. In general creditors are only open to a settlement/payment agreement before a lawsuit is undertaken.
What is a another word for settlement?
judgment
Can your attorney agree to a settlement in a civil suit without your consent?
can your attorney agree to a settlement in a civil suit without your consent
Can creditors garnish your wages or take your house in California?
Yes. California allows income garnishment by judgment creditors. The law also allows a judgment creditor to place a lien on real property owned by the judgment debtor. Generally the homestead exemption will protect a primary residence from a forced sale for debt owed. Judgment creditors rarely request a forced sale of a primary residence because it is a complicated and lengthy process and is seldom profitable enough for implementation.
What assets are protected against a judgment in a wrongful death civil suit?
Each state has different laws on what assets can be protected from judgment creditors.
Can creditors take money from your bank account?
Yes, after a judgment has been granted against you
If you receive a personal injury settlement do you have to repay your creditors the total amount owed to them?
yes.
What are synonyms for arbitration?
decision, settlement, judgment, determination, adjudication
Can creditors garnish wages in Florida?
Yes, Florida allows wage garnishment by a judgment creditor.
Can a workers compensation settlement be attached for a judgment won by a creditor in NYS?
Hi~ Absolutely it can. Your settlement is considered an assett.
How long does a judgment stay on your credit report in Indiana?
In Indiana, a judgment can stay on your credit report for seven years from the date it was filed. This can negatively impact your credit score and ability to access credit in the future. It's important to resolve any outstanding judgments or work with creditors to reach a settlement to improve your creditworthiness.
