Remove Bankruptcy Remove Debt Management Remove Garnishment Remove Judgment
article thumbnail

What Is a Judgment?

Credit Corp

A judgment is an order issued by a judge or jury to settle a lawsuit. For example, if you fail to pay a debt, the lender can take you to court. In this case, the judge may order you to pay the other party as part of the court’s final judgment. These terms are laid out in the final judgment. What Is a Judgment on Property?

article thumbnail

What is a Judgment?

Credit Corp

A judgment is an order issued by a court of law. When you borrow money, you are legally required to repay the debt. If they are successful, the court issues a judgment against you. What Happens After a Judgment Is Entered Against You? You should receive a notice of the judgment entry in the mail. These laws vary.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

An In-Depth Guide to Bank Account Garnishment in Texas and How to Avoid It

Debt RR

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts.

article thumbnail

Credit Card Debt Forgiveness: What You Need to Know

Credit Corp

While it can provide relief from overwhelming debt, it may have significant consequences, including damage to your credit score, tax implications, and potential legal actions from creditors. trillion in credit card debt. File for Bankruptcy Bankruptcy is a legal process that allows you to eliminate some or all of your debts.

article thumbnail

You’re in Debt: 9 Terms to Know

The Kaplan Group

A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. They can refer you to counselors in your area that provide financial reviews and help you determine a plan for dealing with your debt. Debt Settlement Services. A judgment is the official result of a lawsuit in court.

article thumbnail

4 Reasons NOT to Get a Payday Loan

Debt Guru

As the fees pile up and the interest compounds, you might face a debt collector or even a civil lawsuit. The resulting court judgment remains public for seven years, and a successful lawsuit can lead to garnishment of your wages or even seizure of your assets. They may even call your personal references.

Loans 98