[JimJim87]

I just received a phone call from a collection agency in reference to a credit card bill that I owe, totalling about $3400.00. They said that the credit card company, which is Capital One, is considering sending me a judgement. I am currently and have been seeking employment since September of 2008. There is no way that I can afford to even make a payment at this moment. I am willing to do so once I find a job. So, my question is, what is the worst that could happen to me if I am served a judgement for credit card debt?

[ScottGem]

First you have to understand what a judgement is. You don't get "sent" or "served" a judgement. A judgement is the result of a lawsuit. So what first happens is that the creditor files suit against you in the appropriate court. You are then sent a summons informing you of the suit and giving you a chance to respond and defend yourself. A hearing is then held and a judge determines who wins the suit awarding a judgement to the plaintiff or a dismissal to the defendant.

Once the creditor is awarded the judgement, then they have to find assets of yours to attach to pay the debt.

So, if you have no income or assets, then they just hold onto the judgement until you do.

There are loads of threads here (see Credit, Bankruptcy & Debt and Small claims forums) that are from people in the same boat. I suggest brwosing through those threads for more info.