2007-03-27 06:16:40 · 4 answers · asked by knnetic 1 in Business & Finance ➔ Credit
Judgement usually states the amount plus interest or just the amount. Whatever the judge decides. Yes it can.
2007-03-27 06:19:21 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
Yes. Your account will remain open, just like it was before, only the garnishments will be paying down the account as if you were paying it yourself, except now your account will be coded on your credit report as 3 months overdue and under garnishment. (Which is bad for you)
Steal a look at your court docs, they will state the terms of the judgement. They usually write in the amount of interest that you were being charged before, or the default rate.
2007-03-27 13:22:10 · answer #2 · answered by lissa2882 2 · 0⤊ 0⤋
Yes, they can still collect interest on the money you owe them. It will usually state in the court order what interest rate will accrue until the debt is paid in full.
2007-03-27 13:21:19 · answer #3 · answered by Brian G 6 · 0⤊ 0⤋
This should all be explained in your court papers. Anything the judge ordered, you should have a copy of.
2007-03-27 15:26:51 · answer #4 · answered by ? 7 · 0⤊ 0⤋