Full question:
I had a judgment filed against me for over $9000 last spring I believe. First of all, I never received anything in the mail or in person regarding the summons but I was told that they could serve me by mail. They put a hold on the bank account I had at the time, which had nothing in it. I called to try to make some sort of arrangements but they wanted me to come up with like $4000 which was impossible. I haven't heard anymore since last year. I saw it on my credit report which made me think about it. What could happen next? What should I do? Why do you think I haven't heard from them in over a year?
- Category: Judgments
- Date:
- State: New York
Answer:
You have a few options:
- Repay the debt by negotiating directly with the creditor.
- File a proposal to creditors.
- Consider filing for bankruptcy.
Once a creditor starts garnishment proceedings, it can be challenging to stop them without filing for bankruptcy. Many jurisdictions have property exemptions that protect certain assets from creditors. To claim these exemptions, you must file specific paperwork with the court and notify the creditor of your intent to exercise the exemption.
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.