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A 'default judgment' is awarded to the plaintiff when the defendant does not appear in court to defend themselves against the claim. If the judgment was awarded to them in your absence, then you are required to obey the courts finding. Depending on what the claim was for, and in what amount, they may be able to seize, or place a lien against, property of yours equal in value to the claim they won.
What else can I help you with?
What is a default in tennis?
When someone quits, due to some conflict.
What is Shall not be in default?
"Shall not be in default" is a phrase used in contracts and other formal agreements to delineate between simply being late to pay someone, and actually being in default to them. An example might be to say that rent is due on the first of the month, but the lessee shall not be in default until the fifteenth.
What is loan default?
If you don't pay a loan when due, you default on the loan.
To fail to pay a loan or mortgage when it is due?
Default
Fail to pay a lone or mortgage when it is due?
Default
What is the difference between default and default judgment in legal proceedings?
In legal proceedings, "default" refers to a party's failure to respond or appear in court, while "default judgment" is a ruling in favor of the party who did appear due to the other party's default.
If you are a cosigner for someone and they default on the payments and the cosigner pays the debt off can you have the past due amount removed from your credit report?
No, you signed, you are equally responsible for the payments, you are also equally responsible for what happens with regard to default. This is why the lender permitted you to sign as a co-securer of the original loan.
What Word means triumph due to opponent's failure?
Default
What does it mean when you fail to pay a loan or mortgage when it is due?
default
What is the difference between a default and default judgment in a legal case?
A default occurs when a party fails to respond or appear in court, while a default judgment is a ruling in favor of the party who did appear due to the other party's absence.
If you are sent a zero ballance letter from you mortgage company stating your loan is closed can they default on it without notice?
Confused. If the loan is paid off - hence 0 balance...then it can't said to be in default...there is nothing due. (and you are the only one that can be in default, not the lender). If it was charged or written off, then it is in default and still due. The letter is not saying there is a 0 balance.
A part ownership of a company due to money invested?
stock
