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Yes, a debt can be sold after a judgment is awarded. Once a court issues a judgment, the creditor has the right to transfer or sell that debt to a third party, such as a collection agency or another creditor. This process often allows the original creditor to recoup some of their losses while the new owner of the debt takes on the responsibility of collecting the owed amount. However, the debtor may still have the same rights and defenses against the new debt holder as they did with the original creditor.
What else can I help you with?
What is an outstanding judgment?
A judgment is a court order giving a creditor or someone who is owed money (such as money that was borrowed from a friend) the legal right to collect the debt in accordance with the laws of the state. The term "outstanding" indicates the judgment has not been paid or settled, but is still valid. A judgment that has been awarded to the judgment plaintiff but has not been paid by the judgment debtor.A judgment that has been awarded to the judgment plaintiff but has not been paid by the judgment debtor.
According to a judgment you had filed against you when you settle the debt you need to get an Order to Satisfy. What is this and where can you get it?
In simple terms it is a court order that states how the debt is to be paid. Usually the order must be from the court where the judgment was awarded. The clerk of the court which granted the original judgment will be able to inform the party involved of the necessary procedures to obtain the order.
What can the credit card companies do if you refuse to pay a debt in Texas?
The creditor can file suit against the debtor and if the creditor is successful and is awarded a judgment the judgment can be executed against all non exempt real and personal property belonging to the judgment debtor.
Can you use a judgment that you own to pay a debt to the debtor of that judgment?
In the Bible it says, "Let he who without sin cast the first stone." So whomever that may pass judgment be in debt to those who prove them wrong. So you may only pay off the debt of judgment if the person(s) judgment of you has been in turn, forgotten.
Can a private debt collection agency garnish your wages for a non-federal debt like credit card debt?
There must have been a judgment obtained and then they can act on the judgment and attach wages.
Can a collector who bought your account from the creditor be awarded a lawsuit judgment if the debt was included in your bankruptcy?
There is something amiss here, a debt that is discharged in bankruptcy is no longer collectible. Therefore a lawsuit could not be filed and won nor a judgment awarded to the plaintiff pertaining to such a debt. The involved party should contact the attorney that handled the bankruptcy and have the judgment voided if it is indeed invalid. It would be advisable to acertain if the debt was discharged rather than excluded from the bankruptcy or perhaps sold previous to the filing of the petition.
How do you collect a debt owed when you have been awarded a judgment from the court in Florida but no payment has been forthcoming?
It is the responsibility of the judgment holder to choose the method how to collect the debt owed. The judgment holder files the judgment with the clerk of the issuing court in the manner they wish to collect the debt, such as a wage garnishment, bank account levy, property lien, etc.
What happens when a credit card debt goes to litigation?
A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.
What is an outstanding judgment?
A judgment is a court order giving a creditor or someone who is owed money (such as money that was borrowed from a friend) the legal right to collect the debt in accordance with the laws of the state. The term "outstanding" indicates the judgment has not been paid or settled, but is still valid. A judgment that has been awarded to the judgment plaintiff but has not been paid by the judgment debtor.A judgment that has been awarded to the judgment plaintiff but has not been paid by the judgment debtor.
Can a VA benefit be used or attached to settle a lawsuit?
SS and Veteran benefits are not subject to judgment garnishment for creditor debt. They can be attached if the judgment is awarded in something such as a personal injury suit.
If a civil court judgment is sold to a collection agency then is it considered unsecured debt?
No, it is still valid and the holder of the judgment writ can enforce it in the manner allowed by the laws of the judgment debtor's state.
When a creditor has sold your account can they later put a judgment against you for that debt?
A third party collector generally attempts to collect or settle on the debt by using conventional means, such as mail and telephone contact. They can file a lawsuit and if they prevail they will be awarded a writ of judgment which can then be executed against any non-exempt property that is owned by the judgment debtor. Some methods of collecting a judgment are wage garnishment, bank account levy, liquidation of non-exempt assets, liens against real property. The laws of the judgment debtor's state determine how and what property can be protected from creditor attachment.
According to a judgment you had filed against you when you settle the debt you need to get an Order to Satisfy. What is this and where can you get it?
In simple terms it is a court order that states how the debt is to be paid. Usually the order must be from the court where the judgment was awarded. The clerk of the court which granted the original judgment will be able to inform the party involved of the necessary procedures to obtain the order.
Judgment liens are what type of lien?
A Judgment Lien is a lien placed on property by a creditor to recover a certain sum of money granted by a judgment awarded in court. The property can not be sold legally while the lien remains unpaid.
When a judgment is awarded against a man and wife and his company and the husband files bankruptcy on the company but the wife is not a party to the bankruptcy can her wages be garnished?
If both persons were sued and a judgment awarded but only the husband filed bankruptcy and included the debt; the judgment can still be executed against any non-exempt property belonging to the wife and perhaps jointly owned property as well. The legal presumption is that the debt is still owed because it was jointly incurred.
What can the credit card companies do if you refuse to pay a debt in Texas?
The creditor can file suit against the debtor and if the creditor is successful and is awarded a judgment the judgment can be executed against all non exempt real and personal property belonging to the judgment debtor.
Is there statute of limitations on the amount that can be added to an outstanding debt by the collections attorney?
States establish laws that regulate the percentage of interest that can be charged on a judgment, but the interest on the debt will continue to accrue until the debt is paid. Attorneys do not receive the money awarded in a judgment, they are a contracted or contingency legal representative of the original creditor or third party collector.
