What happens after the court has issued a judgement against an individual depends on whether the individual pays it or not. If he pays the amount in full, the case is settled, and no further action can be taken against him.Know More
Paying the judgement in full within 30 days keeps the individual from paying any more interest or court fees. If he does not pay the debt in full, or make arrangements to do so, the creditor has a few options to get its money. The creditor can send notice to the individual's employer to send a portion of his wages directly to the creditor before paying him. If he owns any property, a lien may be placed against it. If he sells the property, the judgement is paid before he receives any proceeds from the sale.
If the debt was related to a business expense, the creditor may be able to have any licenses involved with the business suspended. An individual's vehicle registration and driver's license may be suspended if the debt was caused by a car accident.
An individual may be able to file a claim of exemption with the court to have any garnishments reduced or removed. However, for this to be approved, he must prove that all his income is required to provide the basic necessities of support for his family.Learn more about Debt Law
A debt collection letter should include the amount of the debt, the debtor, how the individual can dispute the debt and how he can verify the debt, according to the Consumer Financial Protection Bureau. All of the information has to be received within five days of initial contact.Full Answer >
Bankruptcy law does not establish a minimum time frame before an individual can file for bankruptcy again, according to NOLO. However, filing too soon after a discharge was received means the individual cannot receive another discharge.Full Answer >
To file a lien against an individual, file a lawsuit in the appropriate court, according to Ciele Edwards of Demand Media. If the suit is successful, the court issues a judgment, which is then used to attach a lien to property owned by the judgment debtor.Full Answer >
According to the Oklahoma law office of Mitchell and Hammond, if an individual in Oklahoma leases or purchases an item on credit and fails to make the agreed upon payments, creditors have the right to seek legal action for repossession of the items. Typically repossessions occur with motor vehicles, but creditors in Oklahoma have the legal right to repossess any purchased or leased item. It is possible for repossessions to occur at any time.Full Answer >