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Guest
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Subject: Legal credit judgement
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Mon Nov 06, 2006 4:48 pm
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| Person stopped paying credit card company 3 years ago, fees,late fees built up. Bill is now with an attorney's office and they are threatning a 'judgement'. What exactly does that mean? I know its on their credit report, but can they attach lien to property and garnish wages? |
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Richard
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Joined: 27 Jun 2006
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Posts: 126
5047 Magic Points
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Tue Nov 07, 2006 6:11 am
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A judgment is basically a decision taken by the court. In this situation, a judgment implies that the court shall decide upon the repayment of a debt which has not been cleared by the debtor. The court has to decide upon the amount the debtor owes and the interest he needs to pay on the unpaid amount.
The court can also place a lien against the debtor's real property as collateral for the creditor requiring the judgment to retrieve his money. The court can also issue an order to garnish wages or anything that the debtor possesses in order to clear the debt. But the debtor is also given a chance to appear in the court and explain why the creditor should not be allowed to garnish any possession of the debtor.
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Donna M
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Subject: Judgments
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Mon Nov 27, 2006 9:55 am
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I am a former Certified Financial Counselor and credit correction specialist with extensive knowledge with consumer law. To help with the question about Judgments. Depending on the statute of limitations in the state where the debt occured the creditor can sue and obtain a Judgment for the debt and yes they can file a motion for what's called a writ of execution which means they are trying to garnish wages at 25% of disposable income depending on the state you live in. The recommendation in a situaion like this would be to contact the law office and request a stipulation of judment if they have not entered judgment yet. what this means is that you agree to make monthly payments for a specific period of time until paid in full and they agree not to sue or garnish wages.
Good Luck |
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ANDREW
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Subject: BEING SUED CREDIT CARD NOT WANT TO GET A JUDGEMENT
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Thu Jul 10, 2008 7:07 am
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| I HAD A DBA BUSINESS CREDIT CARD AND ALWAYS PAID UNTIL LAST WINTER IM A CONTRACTOR A COLLECTOR CALLED AND FORCED ME TO AGREE TO A PAYMENT TERM I KNEW I COULD NOT ADHERE TO PAID $1400 OFF TOTAL 4600 THEN SUPPOSED TO PAY 860+ A MONTH FOR JAN FEB MAR AND APR WINTEER IS SLOW FOR CONTRACTOR AND TOLD THEM THAT THEY DID NOT WANT TO HERE THAT AND TRIED TO HAVE THEM LET ME MAKE SMALLER PAYMENT WHICH THEY DIDNT WANT AND THE CHECKS BOUNCED NOW IT JULY AND IM BEING SUED AND A POSSIBLE JUDGEMENT AGAINST ME HOW CAN I GET THEM TO ALLOW ME TO MAKE SMAKK MONTHLY PAYMENTS LIKE $100 WITHOUT BEING BULLIED AND GETTING A JUDGEMENT |
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goodnatured
Joined: 03 Nov 2007
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Posts: 4007
1224 Magic Points
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Thu Jul 10, 2008 3:39 pm
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Once you get into court there should be an arbitrator there, they will probably put a judgement against you that will lifted once the payments have all be made. The arbitrator should set affordable monthly payments for you, much lower than what the collection agency is demanding. Goodluck, hope you find resolution to your problem.
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for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Sat Jul 19, 2008 7:09 pm
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| That is probaly the only way to get a collector to take smaller payments. Can a person get an arbitrator or do they have to wait for the company to sue. Because in the mena time on an amount like this it could really add up in late and over the limit fees. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Sat Jul 19, 2008 8:16 pm
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In my case the court assigned three attornies to be the arbitration team, so I did not have to do anything.
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Mon Jul 21, 2008 1:25 am
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| That is good to hear unless you have to pay for three attys. Imagine the fees? |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Mon Jul 21, 2008 2:32 am
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I don't think that I have to pay any of the attorneys, at least I hope not, Ouch, did not think of that.
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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CMBV22
Joined: 08 May 2008
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Posts: 382
4435 Magic Points
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Mon Jul 21, 2008 6:46 pm
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In my understanding it is very rare to have t pay attny fees in small claims court
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****************************
Free sample letters,
info on paying off payday loans,
and quick credit repair tips.
Pesonalized credit repair advice in the forum:
www.homecreditrepair.net
http://homecreditrepair.hqforums.net/ |
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CMBV22
Joined: 08 May 2008
CMBV22's page
Posts: 382
4435 Magic Points
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Fri Jul 25, 2008 11:36 pm
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best buy credit repair,
I would say that while it does take time to learn the FCRA, FDCPA and your state laws it is not a daunting task. I also believe that everyone should know this information regardless of their credit score or debt situation. Anyone who just assumes that a company or individual providing a service knows more than them and just trusts them blindly is going to get ripped off. Credit repair does involve alot of tedious letter writing and follow up but, it is not a difficult task. Anyone who puts some time and effort into credit repair will get results. Yes, some ppl will rather pay ppl like you and I to do the leg work for them because they value their free time over $$ but, They really should be encouraged to learn the process for themselves.
Yanno, Teach a man to fish......
_________________
****************************
Free sample letters,
info on paying off payday loans,
and quick credit repair tips.
Pesonalized credit repair advice in the forum:
www.homecreditrepair.net
http://homecreditrepair.hqforums.net/ |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Sun Jul 27, 2008 1:26 am
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| CMBV I am not even giving bbcr the reply. I don't believe whom ever is even reading these posts and trying to help. I think this is just a free form of advertising. |
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CMBV22
Joined: 08 May 2008
CMBV22's page
Posts: 382
4435 Magic Points
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Wed Jul 30, 2008 9:18 pm
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yeah, I figured that out when I read the same post about 800x after I wrote this.
_________________
****************************
Free sample letters,
info on paying off payday loans,
and quick credit repair tips.
Pesonalized credit repair advice in the forum:
www.homecreditrepair.net
http://homecreditrepair.hqforums.net/ |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Thu Jul 31, 2008 1:19 pm
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| Me too. I commented on a few and then seen there was still a milion other listings. |
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jmr
Guest
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Subject: bad credit
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Tue Oct 06, 2009 3:13 pm
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| I left the usa in 1996 with many credit card bills never paid..for a total of around $20,000...no of them have been paid to this date..the collectors were after me until about 1999..as 13 years have passed what is my credit situation |
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