creditor and judgment help

A judgment is an official result of a lawsuit in court. In debt collection lawsuits, the judge may award the creditor or debt collector a judgment against you. If you don’t respond to a legal complaint, you will lose your chance to defend yourself and you may find that a judgment is entered against you.

It is almost always better for all parties to settle disputes outside of court if at all possible. Many times you will be able to reach an affordable settlement with the Judgment Creditor. Court costs and attorney fees can be expensive and the experience itself can be quite stressful even if the debtor has qualified legal counsel. An experienced lawyer may be able to resolve your debt obligation by negotiating an affordable settlement before a legal complaint is ever filed against you.

A creditor will usually file a legal complaint to pursue a money judgment against you if you have failed to make credit card payments for at least six months and you have made no effort to resolve your debt. Once the lawsuit has started, it can be very difficult to stop and it could result in a final Judgment and accompanying recorded Judgment lien against you and any property you may own.

Since most creditors sue credit card holders for valid debts, the chance of a judgment being entered against you is fairly high. If a money judgment is entered against you, you will be given a set time period, usually thirty days, to comply with the judgment and repay your debt in full including costs and attorneys fees that the creditor incurred as well as any accrued pre and post-judgment interest.

If you do not act in accordance with the judgment, the judgment creditor is permitted to go back into court and request a Judgment Execution Order. This order then sets in motion various actions that the creditor can take against you in order to reclaim the value of its Judgment. These measures may include freezing your bank accounts, garnishing your wages, placing a lien against your property, and possibly seizing your personal property.

While it may be possible to avoid the foregoing Writ of Execution actions if you are presently unemployed, a head of household with minor children, or you possess some other qualified exemption to garnishment or levy, the sobering fact is that the judgment can be pursued against you for up to twenty years.