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Judgements are a legal determination that you owe a debt to a person/co, and that allows them additional methods of collection, like garnishing wages or seizing assets. Someone or thing who is very wealthy and has more than enough to pay the debt may have a judgment put against them for failing to pay...basically they are choosing not to pay what they should and the creditor needs help collecting. Bankruptcy is a legal process that protects one from those looking to collect the debts owed...that are unpaid because the person/co in debt is so in debt, that they are incapable of paying them. So the Court takes control and uses the assets to pay a much as can be paid..generally discharging the rest of the debt. It gives someone with overburdening debt a "fresh start"...basically from 0...but considering they were negative before, that is a big advantage.
What else can I help you with?
A person has a judgment but files for bankruptcy can bankruptcy void the judgment of an earlier date in WA state?
Bankruptcy does not void the judgment. It simply makes it noncollectable because it was discharged in the bankruptcy like any other debt.
Can a judgment be collected from a dissolved corporation?
The judgment would have to be presented to the bankruptcy court. Wow! Who mentioned bankruptcy? This is a money judgment against a admin dissolved corp. If bankruptcy had been filed the judgment, if listed, would be discharged and worthless.
How do i protect my judgment against someone in bankruptcy?
If the judgment debtor is already in bankruptcy, there is nothing you can do. If the judgment is for a debt for which discharge is not allowed, it survives the bankruptcy. If no bankruptcy has been filed, you can try to attach or levy on some property of the debtor that has some value, or equity.
How can you get a judgment off your credit report after filing bankruptcy?
If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".
Can you file bankruptcy on a fraud judgment?
If there is a judgment AGAINST you for fraud, then NO, such a judgment WILL NOT be discharged.
Can a bankruptcy be stopped for a court ordered judgment made prior to the bankruptcy?
No.
Can a judgment be put on your credit if the debt was part of the bankruptcy?
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
Can you file bankruptcy after signing a judgment?
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What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
Does bankruptcy avoid a defieincy judgment?
yes it does
Why is a judgment lien still on the title after a discharged Bankruptcy?
Generally, judgements survive bankruptcy.
If judgment goes to bankruptcy will it be removed?
If a judgment goes in the bankruptcy, it can be removed. The person who the judgment was for, has the right to request that it still be paid. In most Chapter 7 situations, the judge will decide in favor of the debtor.
