HELP WITH JUDGMENTS!
Judgments!
How do they affect you?
What can you do to get rid of them?
How much to they really cost you?
You owe a creditor some money! You can't pay! You just don't have the
cash and there is nothing left in your budget. You tell the creditors,
but they just want their money! This is how it usually starts out. You
have every intention of paying your bills, but you just can't for one
reason, or another!
The creditor decides to take its debt collection process a step further,
and starts a lawsuit against you. In most cases, there is nothing to
defend. You know you owe the money. The bottom line...the creditor gets
a judgment against you.
Whether you realize it or not, the entry of a judgment against you puts
a lien on all real property you have in the County where the judgment is
entered, the only exception being that a judgment against just you won't
be a lien against property you already own as husband and wife (at least
in North Carolina). But, if the judgment is against both you and your
spouse, even that is no help. The judgment will be a lien against all
your real property. The judgment lien is a lot like having a creditor
get an additional mortgage against your property. And worse, assuming
there is some value in your real property above the mortgages, the
creditor may well be able to put your real property up for sale at
public auction. This would be a tough way to lose your home.
To make things worse, the judgment gets bigger and bigger because the
creditor has a right to interest as long as the judgment is left unpaid.
Then....adding insult to injury....the creditor can also come after
other things you own, like your car, household goods, money in the bank,
tools, equipment, etc. But first, most creditors must give you a right
to claim certain "exemptions" (at least in Texas). Exemptions
are categories of property that, up to certain limits, the creditor
cannot take. Even wages are not protected from certain creditors, as for instance:
(1) An ex-spouse coming after you for payment of alimony or child
support, (2) The State and Federal government for back taxes, or (3)
Student loan lenders for overdue student loans.
The Creditor is awarded the judgment for whatever amount of money is
owed, plus...in many cases...attorney fees and cost costs. Lets say it's
$2,000.00 as an example. What does this mean? Well! First it means that
the Creditor can take the money out of your checking account, if he can
find your bank account. Here's an example. You have just put your
paycheck in your checking account. It was $800.00 and let's say the
creditor knows where you bank and has already requested that the bank
collect any money that gets deposited into your accounts. In this
example, it would be $2,000. The $800 would be gone! If you have any
money in a savings account, it will also be gone.
The judgment also goes on your credit report and that means no more
credit in most cases. It also has some negative effects when you're
working a job with a security clearance.
It's embarrassing! It's also something that can be taken care of using
Federal Bankruptcy Laws! You can stop these negative affects of
judgments fast! If need be...as for instance in the case of a
"non-dischargeable" debt....and using Chapter 13...you can claim the
right to pay it over up to 60 months in most cases. So! Over 60 months,
your payment on this debt would be less than $10 per week. And that
assumes you have to pay it at all. Many judgments...especially with
respect to unsecured debts...never have to be paid back. It just depends
on the facts of your particular situation.
Every thing you think is hopeless has a solution....if you ask the right
person!
The Law Offices of Rubin & Associates, P.C. can give you straight answers to tough
questions. They can also start the process to take that monkey off your
back on the first visit!
Make the call now!
Call for a FREE Confidential Visit at: 1-800-THE-DOGS.
Stop getting pushed around, feeling angry and losing sleep!
Take some positive action now!
You'll feel better! We guarantee it!