How Long Will It Take My Court Judgment to Go Away?
Although debt is not created overnight, it may seem as if collections activity and the misery associated with demanding creditors and angry debt collectors does escalate that quickly. As credit card debt reaches all-time highs in the US—along with other burdensome financial issues such as student loans—far too many consumers and borrowers are struggling alone with the stress of household debt that may continue to grow until it culminates into one or more collections lawsuits.
A steady stream of phone calls and letters may begin coming your way almost as soon as you miss that first payment to a creditor, not to mention added interest and late payment charges that start hiking up minimum payments immediately. If you don’t have the income to make any payments, numerous settlement offers may be presented too; however, without any funds to offer, you could find it very difficult to strike a deal. Once the creditor realizes this, they may decide to sue you—and yes, even though they realize you do not have much (or anything) for them to take in the case of a default or court judgment being granted against you.
The only true way to eliminate a court judgment is to satisfy the debt. You may be able to negotiate with the creditor or debt collection agency even before going to court—or after the judgment is in place, but otherwise they have the means to see your property seized by local law enforcement and sold at public auction, to garnish wages up to 25 percent of your disposable income, and to even freeze your financial accounts by court order. There is the chance also that your attorney can see the court judgment dismissed by filing a motion to vacate, explaining that you had a good reason for failing to respond initially, and then moving forward to fight the initial case.
The court judgment is a long-term order. In California, the creditor can continue their collections activities for up to ten years in trying to see the debt satisfied. After that, they can also renew the judgment with the court for another ten. If you don’t think you will have anything the creditor can come after for at least two decades, then you can consider yourself judgment proof, but that is a rare scenario.
We can help you explore your options if you are being sued or a judgment has been granted against you. Our attorneys have decades of experience in serving clients with similar financial situations. Let us review your case and discuss what would work best for you. We are here to help! Call Fitzgerald & Campbell, APLC today for a free consultation at (855) 709-5788 or email us at firstname.lastname@example.org.
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Posted in: Judgments