Who can tell me what happens when you are going to court for a judgement against you. Do THEY lock you up?
2006-06-08 08:01:13 · 2 answers · asked by hunkeydoorey101 2 in Business & Finance ➔ Personal Finance
it is civil. credit card
2006-06-08 09:13:00 · update #1
What type of judgment? Civil or criminal? If it is civil, nothing. You just get a civil judgment and you have to pay the money. Criminal, you might get locked up.
2006-06-08 08:04:48 · answer #1 · answered by Princess 5 · 0⤊ 0⤋
Assuming your referring to a civil judgment regarding an unpaid debt, you will not go to jail. When a debt is owed, whether it derives from a loan, credit card, lease, court case, etc.. if the debtor defaults the lender may get a civil judgment.
The judgment will be reported to the credit bureaus and will negatively impact your ability to borrow money and increase your borrowing costs if you can get a loan. If you own real estate, you will not be able to sell the property without clearing the judgment. If you want to purchase real estate (with a loan) you will have to clear the judgment. Depending upon your state laws, you could have your wages garnished and/or your bank accounts levied.
2006-06-08 09:40:55 · answer #2 · answered by Adios 5 · 0⤊ 0⤋