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If a creditor obtains a judgment can bankruptcy still be filed?
Yes
What happens to judgment when the plaintiff goes out of business?
The judgment is still collectable, it does not simply go away. The creditor may assign the debt to a third party, who has full authority to collect it, however the creditor may notify you, the judgment debtor, ehere and when to send payments. its still a judgment against you, and will remain so until the creditor instructs the Clerk to cancel it, by stating you have paid, or rather "satisfied" the judgment against you.
If your debt with a judgment against you has been sold can the judgment still be on your credit report from the original creditor effecting your credit report twice?
No, it's the same account and the new creditor is simply taking over the same rights as the original creditor.
Do you still need to pay a company if you are paying a collection agency for the charged off debt?
No, as they are the legal agent of the original Creditor and the arrangements made with the collection agency are binding on the original Creditor.
If you have two debtors seeking garnishments are they both allowed 25 percent of your pay or a total of 25 percent combined?
Judgment creditor garnishments must run consecutively. The creditor who received and executed the judgment first will be paid before another creditor can garnish the debtor's wages. If federal garnishment is used rather than state then it can be a maximum of 25% of disposable income with the first weekly based $154.50 exempt from garnishment. Please be advised, if there is child support deduction order in place it takes priority, with the primary judgment creditor's garnishment still valid but secondary in collection.
If you had a levy placed against your bank account in 2005 and nothing has happened since can action still be taken at a later time?
In all likelihood it would be necessary for the creditor to refile the judgment as a new bank account levy or even renew the judgment and then file. The action that can be taken by a judgment creditor is determined by the laws of the state where the judgment is entered.
If you move to Massachusetts can your wages still be garnished for a repossession in Oklahoma?
Yes, but the creditor would have to sue in the debtor's state court in the county where the debtor resides and if awarded a judgment execute the writ under the laws of Massachusetts not Oklahoma. If the judgment creditor already holds a writ of judgment in Oklahoma they can file it as an abstract judgment against the debtor's real property without the necessity of court procedure.
What are the laws of filling a lien on personal property for medical bills?
The debtor must be sued in the court of jurisdication in their state. If the plaintiff/creditor prevails a judgment will be entered in their favor. The judgment can then be executed against property belonging to the debtor in accordance with the governing state laws. Collection agencies often use arbitration where it concerns medical bills. Arbitration allows the creditor to bypass normal court procedures by means of submitting valid evidence of the debt to the arbitration board. The debtor will be informed of the action and given 30 days to submit a written response. Even when an arbitration award is granted to the creditor said creditor must still file the action in the proper state court to receive a writ of judgment.
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.
Can a debt be sold after a judgment is awarded?
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.
Can a creditor refuse a voluntary repossession and still demand payments?
yes, as this would make it easier to obtain a judgment and/or wage garnishment for whatever is owed.
If wage garnishment is in place by the IRS can another creditor with a judgment levy my bank account?
Yes, the debtor's bank account could still be subjected to levy by a judgment creditor. Garnishments and levies must run consecutively, meaning that there cannot be multiple creditors enforcing judgments at the same time in the same manner.
