Court ordered judgments – How to avoid them and keep a clean credit report
Let's face it, dealing with the threat of being sued for a debt and having a court ordered judgment placed on your credit report would make anybody unhappy. But, with a little know how and guidance, you will be in a position to deal with this judgment before it hits your credit report. In this article I have provided you with killer tips on dealing with a possible court ordered judgment.
How do I avoid a court ordered judgment on my credit report?
When the court orders one party to the lawsuit to pay the other party a certain amount of money. The amount of money awarded to the winner is called a money judgment. Try to avoid the debt from becoming a judgment by either settling the outstanding account or setting up a payment plan.
I just got a summons to appear in court for an old debt. What should I do?
If your income is low and you can't afford to settle the debt, go to court with a payment agreement in mind. Be sure to bring proof that you can't afford the full amount of the debt. This could include copies of your lease, utility bill, student loan payments and other documents. Since the judge has the power to force the creditor to enter a payment agreement, ask for a payment plan to avoid a court ordered judgment. In return, the creditor's attorney will request for a stipulation of judgment, which means that if you default on the agreement, the creditor's counsel can get a judgment entered without having to sue you.
How do I file a motion to have the judgment set aside?
Call the clerk and ask for the procedures on filing a motion to set aside a default judgment. After doing this, talk with a Prepaid Legal Attorney for assistance on taking the next step or to help you write the motion.
Lastly, most people get nervous when faced with court papers. But, having a basic understanding of your options when it comes to dealing with a judgment will make you confident that you can resolve this financial matter.
Questions and Answers
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