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What happens if you cannot afford to pay a judgment and your only asset is a 9 year old car?
Most judgments remain in force for 20 years, and can be easily renewed.
Do you expect your current situation to continue and you are happy to remain poor and not make any income or own anything for forever?
In which case, I guess they will just garnish your social security then anyway.
What else can I help you with?
Is an unpaid loan an asset?
No, it is a debt and therfore cannot be considered an asset. the only way to term it an asset is to be the lender.
What options do I have if you can't afford to pay my second mortgage?
Cutting through the riff raff....you cannot afford to live in the house that you cannot afford to pay the debts on...or afford the lifestyle that you cannot pay your obligatioons for. No process, bankrutpcty or otherwise, is available that will allow you to not pay your obligation/debts but keep the assets, like the house. (Note, BK includes all your asets and all your debts, you cannot pick and chose only this or that. Your assets are used to pay your debts. Secured debts, like a mortgage, get paid first from the sale of those assets they are secured by). You can increase your income, better/more jobs, sell other assets and pay off the debt or sell the house and buy one you can afford. Again, any other way you may delay paying for a while, but you will lose the asset.
Is goodwill a real asset?
No, goodwill is not a real asset. There are assets that are cannot be measured directly but in the end, they will make changes to the performance of the enterprise.
What are the causes of liquidity risk?
issues in which a party interested trading on asset cannot do it because nobody in the market wants to trade that asset.
How do you answer 'Why do you feel you will be an asset to the company' in a job interview?
You could say that you feel you will be an asset to the company by stating why in an interview. You cannot get this question wrong.
What happens if a judgment is taken against you?
If a judgment is taken against you, it typically means that a court has ruled in favor of the other party, often resulting in a requirement for you to pay a specified amount of money or comply with certain actions. This judgment may lead to wage garnishment, asset seizure, or liens against your property if you fail to comply. Additionally, it can negatively impact your credit score and financial standing. It's important to address the judgment promptly, either by paying it, negotiating a settlement, or appealing the decision if grounds exist.
When is a capital lease a better alternative than buying an asset?
When the asset depreciates (loses value) fast and you want it only for a short period of time it may be better to lease than to buy. Leasing may also be a less expensive or more available method of financing than borrowing, particularly for someone with poor credit or little credit history, if you cannot afford to pay cash.
Is insurance a asset or liabilty?
Insurance can actually cannot be considered as an asset or a liability.. Infact Insurance is there to protect your asset for future needs and save you from financial crisis.. It reduces all the losses ocuured on any particular event..
Where can someone access a trustworthy debt calculator?
You can find a debt calculator here www.realtor.com. You need debt to asset ratio to see if you can afford a loan.
Can a credit card company intercept your income tax refund if you have a judgment against you?
Yes - the refund is an asset - which the card company can use to offset your debt !
What are the legal procedures involved in judgment debt collection?
Legal procedures involved in judgment debt collection typically include obtaining a court judgment, serving the debtor with notice of the judgment, and then using various methods such as wage garnishment or asset seizure to collect the debt. These procedures are governed by state and federal laws and may involve court hearings and enforcement actions.
Can a non computer user install asset management software?
No, a person who cannot use a desktop/laptop cannot install asset management software. It would require that the person be capable of using a desktop/laptop in order to install any type of software.
