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What is a judgment for debt?
A judgement for debt - is a ruling by a court - detailing what and how much the debtor must pay (and any time-limit to repay the debt).
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.
What is the process for resolving debt in court?
Resolving debt in court involves a legal process where a creditor files a lawsuit against a debtor to collect the owed amount. The court will review the case, and if the debt is proven, a judgment will be issued. The debtor may be required to pay the debt, negotiate a settlement, or declare bankruptcy to resolve the debt.
How does nonprofit debt consolidation work?
Nonprofit debt consolidation works by combining a debtor's debts into one loan. The creditor then takes out a lower interest loan to pay the combined debt so that the debtor has lower interest rates to pay.
What can happen if there is a judgment against you and you cannot pay?
A judgment creditor can execute the judgment in whatever methods are allowed under the laws of the state in which the judgment debtor resides. The preferred method is by wage garnishment. Other possible methods are, levy of bank accounts (including those that are joint) seizure and liquidation of non exempt property belonging to the debtor and a lien against real property or the portion of such that is owned by the debtor.
What is a judgment for debt?
A judgement for debt - is a ruling by a court - detailing what and how much the debtor must pay (and any time-limit to repay the debt).
Can a civil lawsuit result in a garnishment?
A civil suit after a judgment is obtained but not before can definitely result in a garnishment of the judgment debtor's salary. That is one of the most widely used methods of collecting on a judgment when the debtor does not have assets from which to pay the debt.
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.
If someone owes money for a judgment can it be temporarily suspended so the debtor can refinance a home to pay the debt?
No, the judgment is a court order and must be paid in full or to the satisfaction of the judgment holder.
When judgment entered against debtor is creditor held to any oral settlement agreement to pay off debt made between debtor and creditor?
Not unless it is in writing unfortunatly.
What is the process for resolving debt in court?
Resolving debt in court involves a legal process where a creditor files a lawsuit against a debtor to collect the owed amount. The court will review the case, and if the debt is proven, a judgment will be issued. The debtor may be required to pay the debt, negotiate a settlement, or declare bankruptcy to resolve the debt.
Does a debt collection agency have to go to court to collect?
Yes, a creditor/collection agency must obtain a writ of judgment from the civil court in the state where the debtor resides before any action can be taken against the debtor's property. The debtor will receive a final notice of judgment and be given a specified time to claim all exempted property from judgment action.
Does the guarantor on a loan get a ccj if the debtor gets summoned to county court?
When debt issues get to the court as civil actions, the lender almost always includes everyone listed on the loan (including the guarantor) as a defendant in the case. If the lender wins, the judge will usually give the debtor some chance to pay the debt as a result of the judgment. If either (1) the judge does not believe that the debtor can pay or (2) the debtor does not pay after being guided to do so, then the guarantor will become liable for the debt and have a judgment lodged against them. The best way to avoid such action as a guarantor is to not let the debtor get to court in the first place and work with the lender to mitigate the potential credit damage to all parties to the loan.
What does discharge of a debt mean when it is not associated with bankruptcy does it mean the debtor is fullt released from the obligation to repay the debt?
Yes, if a debt is discharged the debtor no longer has to pay.
If a creditor seeks a judgment for wage garnishmentin New York State and the debtor is currently in a program to negotiate or pay back the debt should the debtor appeal the judgment?
Do you disagree that you owe the debt? If so, then try to appeal and prove you don't owe it. If you do owe it, and your trying to pay it, that arrangement is what the program your in (or company your working with) should be doing/handling with the creditor...who now has or wants a judgment. The judgment doesn't change the debt. That this is happening may cause you to question what the program your in is actually doing. have them prove to you they have made arrangements with your creditors and find out why this one doesn't find it adequate... The above may be different if the program is part of a formal Chap. 13 bankruptcy. However, the result is the same...you'll pay the debt...judgment or not.
What is a bad debt?
A bad debt is a debt which cannot be recovered from the debtor, either because he does not have the money to pay it or because he cannot be found and/or forced to pay.
Can a lien be put on a mobile home that is on rented land when rent has not been paid for years?
Yes. The property can obtain a judgment for delinquent rent payments. The mobile home could be sold if the debtor doesn't pay the judgment.Yes. The property can obtain a judgment for delinquent rent payments. The mobile home could be sold if the debtor doesn't pay the judgment.Yes. The property can obtain a judgment for delinquent rent payments. The mobile home could be sold if the debtor doesn't pay the judgment.Yes. The property can obtain a judgment for delinquent rent payments. The mobile home could be sold if the debtor doesn't pay the judgment.
