Alex What happens if you win a court judgment against someone?
If you have won a court judgment against someone with a decent job, you may be able to intercept up to 25% of his or her wages to satisfy your judgment. This process, permitted in nearly every state, is called a wage garnishment. the debtor does not quit the job, contest the garnishment, or file for bankruptcy.
How do you get a wage garnishment for a judgment?
How to Garnish Wages. A wage garnishment requires little effort on your part. Procedures vary by state and locality, but usually you give the sheriff or other local official (called the “levying officer”) information about where the judgment debtor works.
What happens to my credit after a judgment is entered?
What Happens After the Judgment Is Entered? A judgment can turn an otherwise uncollectible old credit account into a collectible amount of money. For instance, a statute of limitations may prevent a creditor from collecting funds you owe them, after a set number of years.
What happens if I file an answer to a judgment?
Of course, even if you file an answer to the lawsuit, you can still lose the case. A judgment can turn an otherwise uncollectible old credit account into a collectible amount of money. For instance, a statute of limitations may prevent a creditor from collecting funds you owe him, after a set number of years.
If you have won a court judgment against someone with a decent job, you may be able to intercept up to 25% of his or her wages to satisfy your judgment. This process, permitted in nearly every state, is called a wage garnishment. the debtor does not quit the job, contest the garnishment, or file for bankruptcy.
Why do people collect money after a judgment?
Here are ten things to keep in mind when collecting money after a judgment: 1. Individuals and businesses that are financially stable usually pay judgments that are entered against them. They do so because they want to avoid unpleasant “collection” activities and further costs. 2.
When is it difficult to collect a judgment?
2. If an individual or business debtor stubbornly refuses to pay a judgment or is insolvent (meaning business or person’s debts are greater than its assets), you may find it quite difficult to collect a judgment. 3.
Can a judgment be paid in installments over time?
Most judgments order the judgment debtor to pay the winner the total amount due in one lump sum. However, in most states, the judge can order the judgment debtor to pay the award in installments over time if requested.