That Default Judgment Has the Potential to Wreck Your Life
At the end of last year, household debt had reached a historic high, once again. And while financial analysts may continue to extoll the benefits of lending, borrowing, and spending, your own personal economy may not just be suffering but failing entirely. In your defense, financial issues may point back to medical problems such as a sickness or a catastrophic accident that debilitated you to the point of missing work or losing your job altogether. You may have experienced serious issues within your family, whether a parent was aging and ill and required caretaking, whether you went through a separation or an extremely expensive divorce, or if there was a death or other serious issue that took precedence.
While you must take care of priorities, it is also critical to manage your finances, and if they have gotten out of control during unexpected personal events, it is time to rein them back in with the help of an experienced legal professional from Fitzgerald & Campbell, APLC. Continuing to procrastinate or shove the bills under the rug will only make your life worse, and although it may seem hard at first, acting to resolve your financial issues could make you feel better than you have in a very long time.
The key is to act quickly. If you have been served with a collection lawsuit, do not delay in calling an attorney immediately. If you are being sued, you must take action to protect yourself for the future. While most debtors being sued do nothing at all, they open themselves up to extreme vulnerability once a default judgment is granted.
It may be easy enough to skip replying, avoiding court, and assuming you have heard the end of it; however, the default judgment gives the creditor or debt collections agency a great deal more power to pursue satisfaction of the debt. With the default judgment granted against you, creditors can have your wages garnished, property seized, and financial accounts frozen. They have up to ten years to do so until the debt is satisfied, and if that is not long enough, they can extend the default judgment for another ten years. This is an issue to take very seriously as it does have the potential to harm your financial health when you may just be getting back on track at any point.
If you have questions about the laws or timeline of any of your debts, let the attorneys at Fitzgerald & Campbell, APLC help. We have decades of experience in serving clients as they navigate through challenging financial situations, to include collection lawsuits, default judgments, and more. Let us review your case and discuss what would work best for you. We are here to help! Click here to schedule a free 30-minute consultation, call us at (855) 709-5788, or email us at email@example.com.
Posted in: Judgments