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That pretty much depends upon how much the judgment is for.
usually, if the judgment amount is small, then nothing happens except that you have a really negative mark on your credit report.
If you attempt a purchase a home, the mortgage lender will force you to pay off the judgment before they will extend a mortgage loan to you.
The judgment will appear on your credit report for a very long time and will negatively impact your credit score.
If the judgment is for a relatively large amount of money, the creditor will most likely seek to garnish your earnings or attach monies in your bank accounts.
What else can I help you with?
How do you record a journal entry for money recevied from legal judgment?
Debit cashCredit other income
What happens if the adjusting entries to the general ledger are wrong?
You would reverse the journal entry then record the correct entry.
What do you put in an answer in writing to avoid a default judgment?
A "default judgment" is granted when the debt is not contested. You would put information pertaining to your proof that the debt is not valid or actually owed. Just because a person feels wronged, or got inferior goods or service, is not proof enough.
If you have a joint checking account in Michigan can a credit card company freeze the account?
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
Does a reversing entry reverse an adjusting entry or a transaction entry?
Reversing entry can be make to reverse any entry whether it is actual transaction entry or any adjusting entry.
What happens when a judgment is not granted?
You can appeal or accept the judgement.
What happens when a motion for summary judgment is granted against you?
I have found that when this is granted, the other party may file objection to, request to readdress, or appeal the judgement.
How do you file a judgment?
You don't. The Court would file the judgment if it is granted.
What happens after a entry judgement is granted?
I had several credit card debts two have been granted judgements. The judgements equal to the mortgage on the house. Now they threaten further legal actions
Can a prayer for judgment be used for DUI?
A Prayer for Judgment Continued (PJC) is a finding of guilt without an entry of judgment for a criminal or traffic offense. A Prayer for Judgment Continued is a judge-granted remedy that is unique to North Carolina and may not be recognized by other states. However, a judge is not authorized to grant a PJC for a Driving While Impaired (DWI).
A summary judgment is granted only if there is no genuine question of law?
True. Summary judgment will be granted only if there are no genuine question of fact and the sole question is a question of Law.
How long does it typically take for Global Entry approval to be granted after the interview?
Global Entry approval typically takes about 2-3 weeks to be granted after the interview.
In California how long does it take for a request of judgment to be granted?
In Georgia how long does it take for a request of judgement to be granted?"
What does Judgment Of Conviction And Sentence mean?
In criminal law a final judgment of guilty in the criminal case and the punishment that is granted.
Will Peter be granted entry into the gates of heaven"?
The question of whether Peter will be granted entry into the gates of heaven is ultimately unknown and depends on individual beliefs and interpretations of religious teachings.
Who is at the gates of heaven waiting to be granted entry?
In many religious beliefs, it is believed that souls who have passed away are at the gates of heaven waiting to be granted entry by a higher power or deity.
What does it mean when an order for default was issued by a judge?
Entry of Default Judgment. When a party against whom a judgment for affirmative relief is sought has failed to plead or otherwise defend as provided by rules, upon proof of damages or entitlement to other relief, a judgment may be entered against the defaulting party. The entry of an interlocutory order of default is not a condition precedent to the entry of a default judgment.
