Default Judgements
Date: Tue, 08/21/2007 - 05:35
Well...don't know all the laws of your state as they apply to wh
Well...don't know all the laws of your state as they apply to what they can and cannot do but they have plenty of time now to do it. The judgment can stay on your credit report for 10+ years. Among the things they can do include:
Attempt to garnish your wages if it is legal in your state.
Attempt to garnish any bank accounts.
Attempt to put a lien on your house if that is legal in your state and you own property.
Attempt to put a lien on any cars that you own that you are holding title or, in come cases, attempt to take the car.
The can call you in once a year for a deposition to make sure you have not come into any money or assets.
The above are things they CAN do, if permissible by local law. I have talked with people who have judgments who say nothing has ever happened. It just depends. Also, if you own nothing, have no money or job or anything for them to take, you may be "judgment proof". If there is nothing there to take, they get nothing and a judgment does not necessarily guarantee that they will get anything. As an option, you can try to settle with them at some point, in which case, the judgment is marked as "Paid"...but make any settlements in writing. As a last resort, you can consider filing bankruptcy, which would essentially wipe out any judgments.
