Will a collector still try to get judgement, even if u have no house or bank account?

Answer 1

Yes, they will seek garnish of wages. So any job you have they will take a portion of your wages. (that the courts see fit) you will have to claim bankrupcy and then the amount they can take will be less but they will get it out of you one way or another.

Answer 2

Oh yes! And they will too. It isnt the collector that will do it but the pre-legal division of the collection agency. You need to follow up with the Fair Debt Collection Practices Act. It tells you exactly what they can and cant do and what you can and cant do as well. There are other forms of a judgement that can hinder you. They can garnish your wages as well as put liens on real property like your house and do a bank sweep which involves freezing what is in the account and continuing to do so until the debt is repaid. The other form of judgement is an opportunity suit. Most attorneys that use this are looking for an individual that say may be a college student or just obtained some form of professional licensing or anyone in the age bracket of 20 through 30. They are opportuned to obtain employment and develop themselves due to education or whatever and the judgement sits dormant on the credit bureau until they attempt to move on with their life and the mortgage company or whoever says they cant help them with the new loan until they take care of the judgement on their bureau. If you have collectors calling you, try to settle your accounts for lesser amounts than what is owed. You will save money, they will stop calling you and you will improve your credit from charged off bad debt to settled in full paid. big difference. I do credit repair through my business and I also work for a collections law firm. I have been in the industry for 17 years now and have helped people such as Alan Alda to repair and maintain their credit. I would be more than happy to help you if you have something like that going on and it would be a freebie. I just would ask for referral by word of mouth when you see what I can accomplish for you. Below is the link to the Federal Trade Commission and their law the Fair Debt Collection Practices Act as well as my website which is still under construction and my email to the company if you are interested in credit repair.

Answer 3

Yes they may.

They will figure that some day a person may have the funds and/or try to purchase a house.

They can collect the judgment as long as it takes, IF they renew the judgment when the time runs out.

Example - if your states statutes allow a judgment to only be collectable for, lets say 5 years, they "have" to renew that judgment within that 5 years or it no longer becomes collectable.

edited to add: Exemptions vary by state. Wage garnishment is not allowed in some states.

Answer 4

Yes.. but did you know that if you come up on a chunk of cash... you can always call and "settle" your debt. For example, I know of someone who settled with a company that they owed $7500, for $5500, and likewise for a smaller amount. A credit card balance of $750, was settled for $400. This should be last case scenario. But if it is already on your credit as a collection... a paid collection looks a lot better. Like you made an effort. Good Luck!