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I am about to have a judgment against me for $33,000 in superior court in CA for a C.C. debt from 2003. I did not quite make the 4 year statute of limitations on this. Is there any thing besides BK that I could do to fight this, have it set aside, etc. once they have the judgment.
Also, once they do have the judgement, how long would I have before they put a lien on a bank account and garnished my wages?? I own no property (home or car, etc.) so I figure those are the only things thye could do.
Finally, can they put a liem on an IRA account??
Thanks!!
Unless you can show cause to have the judgment set aside you may not be able to have it overturned. You are correct in your assessment. They may file garnishment or attachment of checking and savings. In some cases they can attach an IRA but I would need to research it. Keep your account balances low and keep a low profile for now. Your IRA is not public record so they will have a hard time finding your account. If you are in a position to make payments make them an offer, better yet offer them a lump sum settlement if resources are available. Can you tap into or borrow against your IRA enough to settle the debt? Think about it.
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Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
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