I have a judgement against me now. The atty's have withdrawn their lower settlement offer and raised it because they found out about some property they think I own. They are threatening all kinds of tings to get the money. Can they garnish my wages? Can they take money from my bank account? Can they seize business personal property? I offered to pay the first offer but they refused. Any ideas?

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Originally Posted by Louwee

I have a judgement against me now. The atty's have withdrawn their lower settlement offer and raised it because they found out about some property they think I own. They are threatening all kinds of tings to get the money. Can they garnish my wages? Can they take money from my bank account? Can they seize business personal property? I offered to pay the first offer but they refused. Any ideas?

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Depending on what state you live in, they can garnish wages, seize bank accounts, repossess owned vehicles and put a lien against the property you own. When the property is sold or if you want to obtain an equity loan, they will get their money before you do. Try again to negotiate a settlement. If the attorney will not negotiate, then attempt to contact the person who is owed the money. Maybe he would prefer getting the money from you rather than sharing it with the attorney and can help the attorney to change his mind.

When the judgement hits your credit report, your score will go down. When they place a lien or garnish your wages, your score will go down again. The score has an affect on how much you pay for insurance and what rate you pay for interest on your credit card debt as well as whether a bank will loan you additional funds.

No they can't seize business property unless the judgement was against the business. Otherwise, as advocate said, they may be able to garnish wages, definitely seize bank accounts, possibly seize or place a lien against other personal property. Generally, however, personal residences are exempt.

Did you fight the judgement? Once they have the judgement, they have the upper hand. Why settle when they can get it all?

Quote:

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Originally Posted by Louwee

I have a judgement against me now. The atty's have withdrawn their lower settlement offer and raised it because they found out about some property they think I own. They are threatening all kinds of tings to get the money. Can they garnish my wages? Can they take money from my bank account? Can they seize business personal property? I offered to pay the first offer but they refused. Any ideas?

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I have had a judgement placed against,I did not fight due lack money,I had lost income and now disabled.I just received a letter asking 85% of the so=called 15,000 that I owe.Can my home be taken away due to credit card debt.The 15,000 is inflated due to lawyers fees and interest.