Judgments
Help With Judgments
If you have been sued by a creditor and have had a judgment issued, the creditor may file an Abstract of Judgment asserting a lien on all real property you own, not unlike another mortgage. As long as the judgment goes unpaid, it usually increases as the creditor has a right to interest on the unpaid balance.
Subject to certain exemptions, a judgment creditor can also try to collect on other things you may own, such as a car, household goods, money in the bank, tools, equipment, etc. The judgment against you will appear on your credit report which may result in a more difficult time obtaining credit and may also has some negative effects with respect to employment.
While dealing with the effects of a judgment can be devastating, contact one of our bankruptcy attorneys today to see if filing Chapter 7 or a Chapter 13 bankruptcy will eliminate the debts before they can become judgments. In some instances, your creditors can be completely eliminated, and in others, you may be able to negotiate a repayment plan up to five years in duration for what amounts to pennies on the dollar.
Understanding that each debtor’s circumstances are unique, results will vary depending on your individual situation. The McCandless Law Firm has helped many individuals in similar situations out of the financial holes they have found themselves in. Contact us today to see how we can assist you in getting the fresh start you deserve.
The Hedge 