What is next after default and how much time does it take to get to the next step

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Originally Posted by butvilas1

what is next after default and how much time does it take to get to the next step

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Time depends on the State and how long it takes the creditor to follow up. In general the Judgement is granted, typed up, signed, filed. Copy send to the debtor. Then the time frame before whatever means are legal in your State to collect begins to run.

When the time frame has run, then the creditor takes the appropriate action - garnishment of wages, lien on bank account, lien on property, whatever is legal.

The judgement is recorded and signed by the judge, At that point it is completely up to the lender, he may still try and collect, turn it over to collect agency, he may sell the judgement to another company.

Or they may go for an attachment of your bank accounts, a garnishment of your income tax, maybe a garnishment of your pay check, it is all in his ball park after he gets a judgement