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alamo9
Joined: 07 Dec 2008
alamo9's page
Posts: 1
1008 Magic Points
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Subject: Judgment against me in small claim court:
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Sun Dec 07, 2008 3:20 am
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I need suggestion and help, I just received a judgment against me in small claim court for the amount of almost $2000.00. I am out of job from last few months and i have only few hundred left in my personal account. I have some shares worth now $1100.00 and i also have joint account with my brother (and he has money in his account). I also have one credit card.
1-What can i do that court wont take money out of my account and if i can pay the amount in installment?
2-Is it better for me to take my name out of the joint account with my brother?
3-After taking my name out of the joint account can court still take the money out of that account or they will ask me that why i took the name out now?
4-Court can sell my share and take the money out of it?
5- Court can take money out of my credit card?
Please suggest me whats the best option i have. Thank You. |
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Christopher Yannon, Esq
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Subject: Judment
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Sun Dec 07, 2008 4:05 am
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You may want to simply contact the individual or company that obtained the judgment against you and see if you can negotiate satisfaction. Most creditors know that the cost of collection is significant.
First, they may not know how to go about attaching your account. Second, if they hire an attorney to help with this, his cut will be at least half with no guarantee of success.
In short, you may be able to pay $0.25 on the dollar. Just make sure you file your satisfaction document it with the court. Most small claims courts have a form for this. You will need to get it signed before you can file it.
Author, FixYourCreditDVD.com |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Tue Dec 09, 2008 10:40 am
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Yes, Christopher is right, you can simply call the creditor and tell them your problem and negotiate with them for a settlement plan which you think will enable you pay off your debt. Now the question whether it is a judgment to garnish your wages or a judgment to garnish your bank account. If the judgment is to garnish your bank account, then you cannot remove your name now after the judgment has been issued, as the creditor might have deposited a copy of the judgment with your bank.
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Where there's a will, there's a way !! |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
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Tue Dec 09, 2008 11:13 am
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Hi alamo9
The court only issues judgment against you if you really owe the debt to the creditor. The court is not responsible to collect the debt for the creditor. It is upto the creditor to decide the means by which he would like to enforce the judgment to recover the debt. Before the court proceeding, the creditor must let the court know the type of garnishment he would like to use - either garnishment of income or garnishment of bank account, and based on that the creditor can garnish the account.
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All the Best 
Justin |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 462
10934 Magic Points
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Tue Dec 09, 2008 11:26 am
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A creditor can never take money out of your credit card or sell off your shares to recover the debt. They can either garnish your wage or garnish your bank account. However, even if the creditor or the collection agency garnish your wages, they cannot garnish more than 25% of your income as per the Fair debt collection practices Act. But if the creditor bring judgment to garnish your bank account, he can take out the entire money from your bank account as soon as there is any credit in your account till the time the debt is repaid in full.
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SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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GilbertElla
Joined: 23 Jan 2010
GilbertElla's page
Posts: 1
8 Magic Points
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Subject: new to post
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Sat Jan 23, 2010 5:13 am
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Hey people,
Nice to be here, hope to stay a long time and be a help to others |
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DouglasElla
Joined: 24 Jan 2010
DouglasElla's page
Posts: 1
10 Magic Points
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Subject: Hello from Michigan
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Sun Jan 24, 2010 12:37 am
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Just saying hello to you all ..
Still a bit confused about the goings on here, but I guess I'll keep poking around. |
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debranewell2008
Joined: 10 Oct 2009
debranewell2008's page
Posts: 605
89 Magic Points
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Sun Jan 24, 2010 1:33 am
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Hi Douglas,
Welcome to the forum. We discuss ways in which you can repair your credit. Example if you pulled your credit report and something was being reported wrong then we discuss how to fix it to where it is reported correctly. If you have any other questions feel free to ask. Someone will be glad to help you. |
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Aaron
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Subject: Judgment against me in small claim court
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Mon Jan 25, 2010 1:19 pm
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Hi alamo,
First of all what is most important is whether or not you believe that you owe the debt. If you believe that you don't owe it you can opt for debt validation. However if you think you owe it; as you are facing money constraints; you can go for a debt consolidation or you can negotiate with the creditor. Call them and explain to them the situation, the hardships you are facing.
Whether or not joint account can be garnished depends on the state you live in. Moreover the non debtor account holder will have to supply with proofs of the amount of funds held in the joint account. Then the court will decide which fund is subject to levy.
Thanks,
Aaron |
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ashmichaelss
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Subject: Anyone know a good company for doing a mortgage refinance?
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Wed Feb 24, 2010 9:00 pm
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| Hello. I just moved to the Miami area. I am looking for a solid company to help me with a refinance. I purchased the house from a short sale and had to do business over the phone because I was living in Az. I dont think that I got a good deal. My interest rate in now 6.99 percent. I think that I can refinance and get a much better deal. Please point me in the right direction. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Wed Feb 24, 2010 10:11 pm
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| ashmichaelss, I would go to a local bank for a refinance. I would not just trust anyone with this. What makes you believe you did not get a good deal? In the end that part will not matter since you already have ownership of the home. I would look local for refianance. |
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FreemanCavazos
Joined: 02 Mar 2010
FreemanCavazos's page
Posts: 1
13 Magic Points
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Subject: Nice day, guys.
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Tue Mar 02, 2010 7:30 am
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Hello there
Clearly I am a beginner at this point. I recently came across this site through google search and I stumbled upon this interesting community so I signed up.
Thank you for welcoming me in advance! |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 446
8407 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Tue Mar 02, 2010 12:07 pm
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| Hi, Hope you enjoy the site. There is so much information here. If anyone can help you with anything just let us know. |
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MorrowMahan
Joined: 03 Mar 2010
MorrowMahan's page
Posts: 1
8 Magic Points
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Subject: A great debute...
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Wed Mar 03, 2010 3:13 am
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Hi there! I am new to this forum.
Hope to find out a lot as well as share. Thanks! |
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