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What to Do if a Creditor Files a Judgement Against You👩⚖️ #shorts
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Do you know what to do if a creditor files a judgment against you?
Creditors have the possibility of filing a judgment against you if you fall behind on a debt. This means that the creditor will be granted authorization to pursue specific procedures to collect their debt from the court.
In essence, a creditor who has a judgment against you has more power and can use third-party collection methods to recover the money you owe, such as wage garnishment.
It can be terrifying to learn that you have a judgment against you or that a creditor is pursuing a judgment against you. Suddenly, you've gone from deferring payment on a debt to facing legal action as a result of that debt.
And, sadly, creditors can still get a judgment even if you tried to settle the obligation and were unable to do so due to circumstances beyond your control.
The good news is that there are a few steps you may take to avoid being judged. And, like with most things in life, the sooner you act, the better.
Ignoring a creditor's notice that a judgment is being sought against you might make your situation much worse. If you don't take action before the court date, the court will automatically grant the judgment – even if the debt isn't valid – and you'll be stuck with the repercussions.
What can you do to stop a judgment against you?
1️⃣ Set up a Payment Plan
Speaking with the creditor before they submit any court documents is one method for stopping a judgment against you.
Begin by describing your situation and requesting a payback schedule. Request that any arrangement is in writing, as well as documentation stating that the creditor will no longer pursue the judgment against you. If you're dealing with a legitimate scenario, you'll almost certainly be given a contract stating that no action will be done if you keep your end of the bargain.
Speaking with creditors without professional experience can be dangerous, as many will try to take advantage of you.
2️⃣ Dispute the Debt
If you believe the debt is not legitimate, you have the option of fighting it. You should never agree to pay a debt that you are not responsible for paying.
3️⃣ File for Bankruptcy
Bankruptcy is a legal term that refers to the process of declaring bankruptcy
The only way to protect oneself from a judgment is to declare bankruptcy. If you are unable to create a repayment plan and the debt is valid, this is the best alternative. Although most people think of bankruptcy as a last resort, depending on your financial situation, you may be better off filing before exhausting all other options.
📩 Download Template Letters From My Dispute Library:
...or
My ✨ New✨ DIY Credit Kit (also in the dispute library🙄)
➡️ My Website (And ALL the links I talk about in my videos):
📊 YOUR CREDIT SCORES: A Complete View of Your Credit File in Seconds
📲 FOLLOW ME ON TIKTOK:
🔔 Subscribe and hit the bell for notifications!
#creditor #debt #credit #creditexpert #judgement #court creditrepair
Creditors have the possibility of filing a judgment against you if you fall behind on a debt. This means that the creditor will be granted authorization to pursue specific procedures to collect their debt from the court.
In essence, a creditor who has a judgment against you has more power and can use third-party collection methods to recover the money you owe, such as wage garnishment.
It can be terrifying to learn that you have a judgment against you or that a creditor is pursuing a judgment against you. Suddenly, you've gone from deferring payment on a debt to facing legal action as a result of that debt.
And, sadly, creditors can still get a judgment even if you tried to settle the obligation and were unable to do so due to circumstances beyond your control.
The good news is that there are a few steps you may take to avoid being judged. And, like with most things in life, the sooner you act, the better.
Ignoring a creditor's notice that a judgment is being sought against you might make your situation much worse. If you don't take action before the court date, the court will automatically grant the judgment – even if the debt isn't valid – and you'll be stuck with the repercussions.
What can you do to stop a judgment against you?
1️⃣ Set up a Payment Plan
Speaking with the creditor before they submit any court documents is one method for stopping a judgment against you.
Begin by describing your situation and requesting a payback schedule. Request that any arrangement is in writing, as well as documentation stating that the creditor will no longer pursue the judgment against you. If you're dealing with a legitimate scenario, you'll almost certainly be given a contract stating that no action will be done if you keep your end of the bargain.
Speaking with creditors without professional experience can be dangerous, as many will try to take advantage of you.
2️⃣ Dispute the Debt
If you believe the debt is not legitimate, you have the option of fighting it. You should never agree to pay a debt that you are not responsible for paying.
3️⃣ File for Bankruptcy
Bankruptcy is a legal term that refers to the process of declaring bankruptcy
The only way to protect oneself from a judgment is to declare bankruptcy. If you are unable to create a repayment plan and the debt is valid, this is the best alternative. Although most people think of bankruptcy as a last resort, depending on your financial situation, you may be better off filing before exhausting all other options.
📩 Download Template Letters From My Dispute Library:
...or
My ✨ New✨ DIY Credit Kit (also in the dispute library🙄)
➡️ My Website (And ALL the links I talk about in my videos):
📊 YOUR CREDIT SCORES: A Complete View of Your Credit File in Seconds
📲 FOLLOW ME ON TIKTOK:
🔔 Subscribe and hit the bell for notifications!
#creditor #debt #credit #creditexpert #judgement #court creditrepair
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