judgement question
Date: Sun, 06/21/2009 - 19:09
you get sued(for credit card debt) they get a judgement against you, how does the judgement get paid?
1. thru wage garnishments
2. payment plan?
does the judgement get satisfied right away or is there a time frame on which it can be paid? trying to understand in case it happens to me.
btw I am in California
The judgement is due infull immediately unless it is appealed or
The judgement is due infull immediately unless it is appealed or a stay is issued.
In California Small Claims court once a judgement is issued there is an immediate 30 day stay of execution to allow the losing party to appeal. (The judge does has the option to set payment terms if he wants.) After which time the payment is required to be paid.
You can try to make arrangements with the other party for a plan.
I just won a Small Claim suit and the stay expires in a week.
judgement question
Cellular, what if the amount is huge 25, 000 or more are you expected to pay that in full? or is that point in which bankruptcy comes in to play
That totally depends on the individual case. You can have a paym
That totally depends on the individual case. You can have a payment arrangement done in the court without getting an actual judgment against you (called a preliminary judgment). Once you get the judgment it is very hard to negotiate because the creditor can just garnish your wages, depending on your state (yes, in CA - plus seizure of assets is possible).
"http://www.nedap.org/hotline/settle.html"
See "http://law.scu.edu/FacWebPage/Neustadter/article9/main/commentary/5.html" for info on the Enforcement of Judgments.
Or file for bankruptcy and get rid of it altogether.
The rules are the basicaly the same. Try to settle this debt.
The rules are the basicaly the same. Try to settle this debt. Or find a bk lawyer.
Once a judgment is set against you because you either didn't sho
Once a judgment is set against you because you either didn't show up to the court or missed the summon, you lost by default. Even when the plaintiff has no proofs to back up their allegation. At this point, they can get a lien on all of your properties and your wages. Settlement won't come into play unless you file a motion to vacate the judgment. Always show up to the court hearing and to challenge the plaintiff allegation....unless you can be sure you can vacate the judgment afterward. :) Due to errors on the part of the plaintiff and you are smart and careful enough to catch it.
