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Can the loan company take my property with the Civil Consent Judgment I signed?

Can the loan company take my property with the Civil Consent Judgment I signed?

Q: What happens if I don’t comply with a civil consent judgment?

If you fail to comply with the terms of a civil consent judgment, the creditor may take further legal action against you. This could include wage garnishment, bank account levies, or even property liens. It's crucial to adhere to the agreed payment plan to avoid additional complications and potential legal consequences.

Full question:

I defaulted on an unsecured signature loan and after several attempts to arrange payment arrangements with the finance company I was finally sued for $10,000 last fall. I hired an attorney who continued to try negotiations with the company with no success. I looked at bankruptcy but that did not work out. I finally ran out of cash to pay my attorney to continue; so, the suggestion was made that I enter into a Civil Consent Judgment and all would be over. I figured out as Head of Household I could only get 10% of my wage garnished. I felt I could live with that so I signed. Now I am hearing horror stories of banks that have grabbed bank accounts, cars, property etc. No equity to speak of in my home and wife and I own 2 used cars best one of the two is worth around $3,000. What can I expect as the next step besides the garnishment? We can't lose our cars and I don't want furniture being carried out by a Sheriff, etc. I am really sick with worry! Now, I wonder if I should have signed this? I had a court date set; but now with documents I signed, I wonder if it will still go to court. And, if so, should I at least be there?

Category: Civil Actions
Date: 04/07/2025
State: Missouri

Answer:

If you don't appear in court, a default judgment may be entered. Please see the information at the following links:

http://definitions.uslegal.com/h/homestead/

http://definitions.uslegal.com/c/civil-procedure-default/

http://www.missouribankruptcy.com/exemptions.html

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is a civil consent judgment?

A civil consent judgment is a legal agreement where you acknowledge a debt and agree to a payment plan, often without going to trial. By signing this document, you allow the creditor to obtain a judgment against you, which can lead to wage garnishment or other collection actions. It's important to understand the terms before signing, as it may limit your options for resolving the debt in the future.

Can creditors take my bank account after a civil consent judgment?

Yes, creditors can potentially access your bank account after a civil consent judgment is entered. They may seek a court order to freeze or garnish funds in your account to satisfy the debt. However, certain exemptions may apply, protecting some of your funds. It's advisable to check your state's laws regarding bank account garnishment.

What assets are protected from creditors in a civil consent judgment?

Certain assets may be protected from creditors after a civil consent judgment, depending on state laws. Common exemptions include a portion of your wages, a primary residence, and essential household items like furniture. However, the specific protections can vary, so it's important to consult your state's exemption laws for accurate information.

Do I still need to attend court after signing a civil consent judgment?

If you have signed a civil consent judgment, you may not need to attend court, as the judgment typically resolves the matter. However, if there are any disputes or if the creditor seeks further action, attending court could be beneficial. It's wise to check with your attorney or legal advisor for guidance based on your specific situation.