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What Is a Judgment?

Credit Corp

A judgment is an order issued by a judge or jury to settle a lawsuit. This decision details the rights, responsibilities, and obligations of each party. 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.

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NJ Appellate Division Finds No Private Right of Action for Debt Purchaser’s Alleged Failure to Obtain State License

Troutman Sanders

In 2010, the defendant purchased the account and placed it with a law firm for collection. After receiving letters from the law firm, the plaintiff set up a payment plan, which she completed in 2013. The plaintiff later defaulted on her payment obligations and the account was “charged off.”

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Personal Guarantees in Commercial Collection: How Helpful Are They?

The McHughes Law Firm

A guarantee of payment is a far more effective tool , as it allows a creditor to proceed directly against the guarantor without the necessity of taking any action against the primary obligor [debtor]. Therefore, when drafting a personal guarantee, a creditor should specify that the guarantee is one of payment.