what will happen if sued???
Date: Mon, 03/05/2007 - 20:47
No, you won't be sent to jail for having a debt (although I supp
No, you won't be sent to jail for having a debt (although I suppose if a judge ordered a certain payment arrangement and you failed to comply, you could be held in contempt). A judgement would be issued, and it would stand for 10 years. Do you know where you'll be in 7 years? 8 years?
I thought you would be Judgement"proof"???What happens if you on
I thought you would be Judgement"proof"???What happens if you only make xxxx per year and you have a child to feed???.Or you get fired or layed-off because your state is a "right to work state"???
Although it may be called that, I believe it is more accurately
Although it may be called that, I believe it is more accurately called "execution proof." As in, they can obtain a judgement, but cannot execute the judgement.
Judgement proof just means you have no assets to grab. They will
Judgement proof just means you have no assets to grab. They will get judgement and will properly record it.If they do enough business,it will probably be reported on credit report. It can be a legal valid judgement for anywhere from 7-20 years depending on your state code.
You may want to speak with an attorney in your area to get more
You may want to speak with an attorney in your area to get more clarification on the laws in your state.