Default judgement on credit card?

Question

What if a default judgement was entered on a bad credit card bill. Do you have to pay the whole amount at once as judgment was entered by the Judge? What if you have no income?

Answer 1

If you have no income, they cannot garnish your wages. So in essence, you don't have to pay anything right now.

However if you ever want to buy a home or get a car loan, you'll need to satisfy that judgement. That doesn't mean you have to pay back the full amount. It means you have to pay back whatever you settle with the credit card company for. Maybe they'll take less money to settle it.

If you have any capability to pay it back, call them and negotiate. They want to be paid and may work out a deal. Just make sure any deal you get is in WRITING before you give them a penny, and that upon successfully completing the deal, they will call the judgement satisfied. Again, get that part in writing too.

Answer 2

Credit Card Default Judgement

Answer 3

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RE:
Default judgement on credit card?
What if a default judgement was entered on a bad credit card bill. Do you have to pay the whole amount at once as judgment was entered by the Judge? What if you have no income?

Answer 4

Taking the assumption that you figure this is a valid debt and judgement, such as you were served but just did not go. It would depend on your state. Some states do not allow garnishment of your wages, so even if you did have income they could not attach your paycheck. If they can garnish it and they find you do have income, they can take up to 25% of your disposable income per paycheck.

However, if they find any of your bank accounts they can request from the court that they attach your bank account. If they do this they can take the money directly from there. If you don't have enough in one, they will attach more until the debt is paid. So that you don't attempt to withdraw your money, you probably will not find this out until one day when you have no funds in the account.

Also, depending on the state they don't have to collect right away, they can wait 7-10 years. Then if by the end of that period they can renew the judgement for another period of time.

Answer 5

You may have more options then you think. Most bottom feeding JDB's (junk debt buyers) count on debters not showing up in court. They then can walk away with default judgments. How old was the original debt?Is it past SOL? that's an affirmative defense that could have gotten you off the hook. How much was it for? Was the debt even yours? You don't simply have to "roll over" and pay this. You can file a petition with the court to vacate the judgment. Were you properly served? That's an excuse for having a judgment vacated. Most JDB's, after the debt has passed through two or three different hands, do not have the proper paperwork to substantiate their claim to the debt. They have no chain of title, they have no paperwork from the original creditor. If you want to find out more about this, you can contact me or go to www.creditinfocenter, com and onto the discussion boards.

Answer 6

A default judgement is entered when you don't show up to court to contest the validity of the claim. It gives the creditor the right to collect from in you in many ways such as attaching your wages and freezing any bank accounts you have. I suggest you contact them before these things happen, it will cause more problems for you with bounced checks and extra bank fees. Good luck!

Answer 7

You need to make payment arrangements with the Clerk of Court. You should have done that the day you went to court. They do make concessions for people who have limited incomes. If you haven't been to court yet, then talk with the Clerk of Court and see what arrangements can be made. Good luck hon.

Answer 8

Default judgement on credit card?

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Answer 9

I have to agree I am sure payment arragments can be made