Who Is "Judgement Proof" in a Credit Card Debt Lawsuit?
Creditors enter thousands of credit card debt lawsuits into the court system every day.
Their strategy is simple.
Enter a breach of contract lawsuit into the system, wait for the debtor to respond (most debtors DO NOTHING) and win the lawsuit by default judgement thus granting the creditors the right to garnish income, assets, wages, etc.
You should know that disability, social security income, welfare, veterans benefits, workers and unemployment compensation, life, accident or health insurance proceeds and some pensions are all generally exempt from garnishment or judgment.
It is sometimes known as "judgment proof.
" However, please be aware that many people falsely believe because they are "judgement proof" they don't need to respond to the summons.
This is incorrect! You still need to respond and answer the lawsuit.
If your income falls into this category or you are on some other sort of government assistance that you suspect is exempt you should research this further and fill out a Declaration of Exempt Income and Assets Form and file it alongside the Notice of Appearance and Answer, Affirmative Defenses documents.
This document is generally available at your local courthouse or may be accessible online under your State's court website.
A simple Google search should yield you great results.
It is also beneficial to research your local area for legal aid, if you are "judgement proof" you will qualify! You still must respond to the lawsuit and go through the process.
If you are lucky and you may just get your case dropped, especially after the collector (if it's a junk debt buyer...
whom are the majority of "collectors" issuing lawsuits) is made aware that you are currently "judgement proof.
" However, if you do end up in court and a judgement is entered against you a hearing will be held in which your assets will be examined.
The judge will enter an exemption against the judgement.
Bear in mind, when your financial situation improves the judgement can be re-instated.
For more information on successfully defending yourself in a credit card debt lawsuit, please visit http://www.
howtoansweracreditcarddebtlawsuit.
com
Their strategy is simple.
Enter a breach of contract lawsuit into the system, wait for the debtor to respond (most debtors DO NOTHING) and win the lawsuit by default judgement thus granting the creditors the right to garnish income, assets, wages, etc.
You should know that disability, social security income, welfare, veterans benefits, workers and unemployment compensation, life, accident or health insurance proceeds and some pensions are all generally exempt from garnishment or judgment.
It is sometimes known as "judgment proof.
" However, please be aware that many people falsely believe because they are "judgement proof" they don't need to respond to the summons.
This is incorrect! You still need to respond and answer the lawsuit.
If your income falls into this category or you are on some other sort of government assistance that you suspect is exempt you should research this further and fill out a Declaration of Exempt Income and Assets Form and file it alongside the Notice of Appearance and Answer, Affirmative Defenses documents.
This document is generally available at your local courthouse or may be accessible online under your State's court website.
A simple Google search should yield you great results.
It is also beneficial to research your local area for legal aid, if you are "judgement proof" you will qualify! You still must respond to the lawsuit and go through the process.
If you are lucky and you may just get your case dropped, especially after the collector (if it's a junk debt buyer...
whom are the majority of "collectors" issuing lawsuits) is made aware that you are currently "judgement proof.
" However, if you do end up in court and a judgement is entered against you a hearing will be held in which your assets will be examined.
The judge will enter an exemption against the judgement.
Bear in mind, when your financial situation improves the judgement can be re-instated.
For more information on successfully defending yourself in a credit card debt lawsuit, please visit http://www.
howtoansweracreditcarddebtlawsuit.
com
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