Judgements, and garnishments

Discussion in 'Credit Talk' started by Arthur, Apr 7, 2000.

  1. Arthur

    Arthur Guest

    I have 5 unpaid judgements from 1996 on my credit report, I am not interested in paying them, b/c they drop off in a year and a half, however the only thing I am worried about is the possibility of wage garnishment. Is it likely that a creditor will seek such recourse 5 years after a judgement is won? The bank is Beneficial Financial 3 accounts, one for 700, one for 1000, and one for 5000, all seperate judgements. Any thoughts?
     
  2. sg

    sg Guest

    RE: Judgements, and garnishmen

    Arthur, There is always that possility,
    I can't believe beneficial hasn't already
    been after you. They used to be good to
    work with you, but if you failed to keep you end of the deal they would go after your wages. Since it's been 5 years maybe they
    have forgotten about.
     
  3. John Debto

    John Debto Guest

    RE: Judgements, and garnishmen

    Because they have judgments, you are really on the hook. Beneficial or their assignees could really come after you at any time, garnishment, liens on property, you name it.

    It may come off the credit reports, but a judgment is good for what? 10 years? and can be renewed. I think it's very likely someone will contact you about these debts at some point.

    You ought either to pay it, OR, have a bankruptcy. See a lawyer, I don't even play one on TV.
     
  4. Eric

    Eric Guest

    RE: Judgements, and garnishmen

    You can try disputing the judgements, even if they are valid. The court systems are so far behind, the odds of them making the 30 day limit are slim.

    I disputed one and got it knocked off on the first try.
     
  5. Arthur

    Arthur Guest

    RE: Judgements, and garnishmen

    Back in 96, Beneficial garnished my wages, to the tune of about 50 dollars every two weeks, I quit that job, and got another one, and they never re-garnished. Any thoughts?
     
  6. Arthur

    Arthur Guest

    RE: Judgements, and garnishmen

    Back in 96, Beneficial garnished my wages, to the tune of about 50 dollars every two weeks, I quit that job, and got another one, and they never re-garnished. Any thoughts?...I quit in 96 as well, so It has been 4 years, and there are no Inquires in my CRA to indicate they have been looking for me, not even by the lawyers who sued me.
     
  7. Kristi- Ca

    Kristi- Ca Guest

    RE: Judgements, and garnishmen

    Arthur:

    Depending on your state, the judgments can remain forever. A judgment does not come off your credit unless:

    1. You pay it and then it will come off 7 years from the DATE you paid it (not when it was filed)

    2. The judgment creditor does not renew it when it expires.

    3. You attempt to verifiy it and it is unverifiable.

    4. You negotiate with the judgment creditor to vacate it in exchange for payment. Then it will be listed as vacated (legally void) rather then "satisfied"

    I don't know what state you are in but you can look at http://www.carreonandassociates.com/statute.htm to see when your judgments expire. If the creditor does renew them and most do, then it will remain for as long as they continue to renew it which can be forever.


    Eric wrote:
    -------------------------------
    You can try disputing the judgements, even if they are valid. The court systems are so far behind, the odds of them making the 30 day limit are slim.

    I disputed one and got it knocked off on the first try.
     
  8. janice

    janice Guest

    RE: Judgements, and garnishmen

    how'd you do that with a valid judgement? it's always better to pay, but anyone know what the statute is on tax liens (california)?
     
  9. Andy

    Andy Guest

    RE: Judgements, and garnishmen

    I have a 75K judgement still against me, the others I have satisfied, but the Lawyers I talked to about this judgement have a filing system that when the 10yrs is almost up, they will re-apply the request for Judgement.
    When I talked with them, they first wanted to take me to court again and get more out of me for the delay. Since that first conversation, they want to do a payment plan that will have the judgement paid off in 3 years...I havent talked to them since, but I know that I can't dispute it, they are ready for that too.
     
  10. BOB

    BOB Guest

    RE: Judgements, and garnishmen

    Andy, you must have a great job if you can pay $2100 to these lawyers plus your other
    bills. See if they will stretch it out for a longer period of time. If they try and garnish your wages by law the maximum they
    can take is 25% of each pay check. And if
    your head of household and the only bread winner you can file, and they can only take 10%. Both of these's are after all taxes are taken out. But they can refile to the CRA,s and keep it on you record for another ten years if they so choose. If there is no way you can pay it, then as your LAST OPTION
    you can file bankruptcy. either way it's
    going to be with you for awhile. Maybe one
    of the regulars here will see this and give you some better advice. But if the lawyers
    start to squeeze you and demand a payment plan you can't keep, or if they won't work
    with you then I would as the (last resort)
    file bk, it may be your only option. And it drops off your record after 7 or 10 yrs.
     

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