What does it mean to be awarded a Judgement?

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. You are likely to have a judgment entered against you for the amount claimed in the lawsuit if you: Don’t respond to the lawsuit in a timely manner.

Can a debt be written off?

If a creditor takes too long to take action to recover a debt it becomes ‘statute barred’, meaning it can no longer be recovered through court action. In practical terms, this effectively means the debt is written off, even though technically it still exists.

What makes a judgement a ” good judgement “?

A good judgement therefore, must be seen to have evaluated the evidence of parties fairly, adequately and comprehensively, apply the law so as to leave no one in doubt and take a firm decision. In Abdullahi V. State (1995) 5 NWLR 125 the court stated. thus: “The writing of a judgement is an art.

What happens to a judgment when it expires?

Can My Judgment Expire? The feeling of winning a judgment can quickly wear off after months of waiting for the debtor to pay. Even after years, debtors are known to avoid paying even after a judgment has been made through the courts.

Is there a time limit to get a judgment?

There is a time limit for collecting a judgment from a court after you have won a lawsuit against a debtor and are awarded a judgment. The time limit depends upon the state the judgment was rendered because judgments follow what is known as the statute of limitations.

Is it possible for a judgment to be renewed?

If you need to know the exact date, it is best to consult with legal counsel. In many cases, you will be able to petition the courts for a renewal on your judgment depending upon your circumstances. Permanent judgments may be rendered if the debtor continually avoids paying the judgment.

What does it mean when a judgment is issued?

Do Not Sell My Personal Information A “judgment” is a piece of paper that a court issues stating that the creditor (or another plaintiff) has won a lawsuit and is entitled to a certain amount of money.

What do you need to know about a money judgment?

When you get a copy of the judgment, your first step is to understand the amount of money to which the plaintiff is entitled and what each portion represents. Keep in mind that the judge might have knocked off some money in response to a defense or counterclaim you raised. A judgment usually consists of the following components: The debt itself.